Swiss Life Asset Management Ltd Sells 6,752 Shares of Owens Corning Inc $OC

Swiss Life Asset Management Ltd decreased its position in shares of Owens Corning Inc (NYSE:OC) by 14.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,999 shares of the construction company’s stock after selling 6,752 shares during the period. Swiss Life Asset Management Ltd’s holdings in Owens Corning were worth $4,588,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in Owens Corning during the 3rd quarter worth $39,000. Measured Wealth Private Client Group LLC bought a new position in shares of Owens Corning in the third quarter worth $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning in the fourth quarter worth $37,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Owens Corning in the third quarter worth $56,000. Finally, Whittier Trust Co. bought a new position in shares of Owens Corning in the third quarter worth $56,000. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on OC shares. Wells Fargo & Company raised their price target on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Bank of America decreased their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. UBS Group raised their price target on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Truist Financial raised their price target on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Evercore set a $139.00 price target on Owens Corning in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $144.82.

Owens Corning Stock Performance

NYSE:OC opened at $118.66 on Thursday. The stock’s 50-day simple moving average is $113.73 and its 200 day simple moving average is $116.76. The firm has a market capitalization of $9.56 billion, a PE ratio of -17.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.35. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.21. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share. On average, analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is owned by company insiders.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.