Owens Corning (NYSE:OC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in shares of Owens Corning (NYSE:OCFree Report) by 92.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,190 shares of the construction company’s stock after selling 116,626 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Owens Corning were worth $1,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hsbc Holdings PLC grew its stake in shares of Owens Corning by 66.0% in the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after acquiring an additional 84,958 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Owens Corning by 11.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after purchasing an additional 4,259 shares during the period. Campbell & CO Investment Adviser LLC raised its position in Owens Corning by 452.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after purchasing an additional 15,667 shares in the last quarter. EMG Holdings L.P. acquired a new position in shares of Owens Corning during the fourth quarter worth about $5,336,000. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Owens Corning in the 4th quarter valued at approximately $1,791,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 0.3 %

NYSE OC opened at $176.33 on Tuesday. The firm has a market capitalization of $15.28 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 5.27 and a beta of 1.46. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The company has a 50-day simple moving average of $172.43 and a 200-day simple moving average of $157.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76.

Owens Corning (NYSE:OCGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $2.77 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Owens Corning will post 15.48 earnings per share for the current year.

Wall Street Analyst Weigh In

OC has been the subject of a number of analyst reports. Jefferies Financial Group began coverage on shares of Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 target price for the company. Argus increased their price objective on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Truist Financial raised their target price on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. lowered their price target on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Loop Capital raised their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.21.

Get Our Latest Research Report on OC

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the sale, the insider now owns 62,895 shares in the company, valued at approximately $11,195,310. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,885 shares of company stock valued at $2,940,053. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Company Profile

(Free Report)

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

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

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