Swiss National Bank Sells 37,900 Shares of Owens Corning (NYSE:OC)

Swiss National Bank lowered its stake in shares of Owens Corning (NYSE:OCFree Report) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,900 shares of the construction company’s stock after selling 37,900 shares during the quarter. Swiss National Bank owned about 0.33% of Owens Corning worth $39,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Financial Management Professionals Inc. acquired a new stake in shares of Owens Corning during the 3rd quarter worth approximately $29,000. First Capital Advisors Group LLC. bought a new stake in Owens Corning during the second quarter worth $31,000. IFP Advisors Inc boosted its holdings in shares of Owens Corning by 78.1% in the 2nd quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock valued at $32,000 after purchasing an additional 107 shares in the last quarter. Power Corp of Canada acquired a new position in shares of Owens Corning during the 1st quarter worth $34,000. Finally, Compass Wealth Management LLC bought a new stake in shares of Owens Corning during the 4th quarter worth $34,000. Institutional investors own 90.22% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 657 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the transaction, the insider now owns 37,587 shares of the company’s stock, valued at approximately $5,764,342.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 completion of the transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the transaction, the insider now owns 37,587 shares of the company’s stock, valued at approximately $5,764,342.32. The disclosure for this sale can be found here. Insiders sold 10,465 shares of company stock valued at $1,607,085 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company initiated coverage on Owens Corning in a research report on Tuesday, October 17th. They issued an “equal weight” rating and a $143.00 target price on the stock. Truist Financial lowered their price objective on shares of Owens Corning from $135.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $180.00 in a research report on Friday, December 8th. Royal Bank of Canada lowered their price target on shares of Owens Corning from $168.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Finally, StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $145.87.

Read Our Latest Stock Analysis on OC

Owens Corning Stock Performance

NYSE:OC opened at $158.51 on Thursday. Owens Corning has a twelve month low of $88.86 and a twelve month high of $159.83. The company has a fifty day moving average of $148.26 and a 200-day moving average of $138.48. The firm has a market capitalization of $14.09 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.91 and a beta of 1.47. The company has a quick ratio of 1.49, a current ratio of 2.16 and a debt-to-equity ratio of 0.59.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Monday, March 4th will be issued a dividend of $0.60 per share. 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 (DPR) is 18.49%.

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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