Swiss National Bank Has $39.55 Million Position in Owens Corning (NYSE:OC)

Swiss National Bank lessened its stake in Owens Corning (NYSE:OCFree Report) by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 289,900 shares of the construction company’s stock after selling 37,900 shares during the period. Swiss National Bank owned about 0.33% of Owens Corning worth $39,545,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. raised its holdings in shares of Owens Corning by 24.6% during the second quarter. Bessemer Group Inc. now owns 380 shares of the construction company’s stock valued at $50,000 after purchasing an additional 75 shares during the period. Lindbrook Capital LLC grew its stake in Owens Corning by 19.5% in the second quarter. Lindbrook Capital LLC now owns 526 shares of the construction company’s stock valued at $69,000 after acquiring an additional 86 shares during the period. Ballentine Partners LLC raised its position in shares of Owens Corning by 1.5% during the third quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company’s stock worth $845,000 after purchasing an additional 89 shares during the period. Financial Partners Group LLC lifted its holdings in shares of Owens Corning by 0.4% in the 2nd quarter. Financial Partners Group LLC now owns 20,889 shares of the construction company’s stock worth $2,726,000 after purchasing an additional 92 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Owens Corning by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock valued at $64,000 after purchasing an additional 98 shares during the period. 90.22% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $158.51 on Thursday. The firm has a market cap of $14.09 billion, a PE ratio of 12.21, a PEG ratio of 1.91 and a beta of 1.47. The stock has a 50 day moving average of $148.26 and a 200 day moving average of $138.48. The company has a current ratio of 2.16, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59. Owens Corning has a 12 month low of $88.86 and a 12 month high of $159.83.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, March 1st. Owens Corning’s dividend payout ratio is presently 18.49%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the transaction, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Owens Corning news, insider Gunner Smith sold 708 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the sale, the insider now directly owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders have sold a total of 10,465 shares of company stock valued at $1,607,085 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Owens Corning from $130.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, December 14th. Royal Bank of Canada lowered their price objective on Owens Corning from $168.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Barclays lifted their target price on Owens Corning from $153.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Owens Corning from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $180.00 in a report on Friday, December 8th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $145.87.

Check Out Our Latest Research Report on Owens Corning

About Owens Corning

(Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Further Reading

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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