Neuberger Berman Group LLC Has $2.48 Million Position in Owens Corning Inc (OC)

Neuberger Berman Group LLC lessened its position in shares of Owens Corning Inc (NYSE:OC) by 84.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,075 shares of the construction company’s stock after selling 196,118 shares during the period. Neuberger Berman Group LLC’s holdings in Owens Corning were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Owens Corning by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,371,554 shares of the construction company’s stock worth $636,503,000 after acquiring an additional 117,177 shares during the period. BlackRock Inc. increased its holdings in Owens Corning by 4,010.8% during the 1st quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after acquiring an additional 6,338,177 shares during the period. Dimensional Fund Advisors LP increased its holdings in Owens Corning by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,638,376 shares of the construction company’s stock worth $223,280,000 after acquiring an additional 280,680 shares during the period. Victory Capital Management Inc. increased its holdings in Owens Corning by 7.9% during the 1st quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock worth $202,370,000 after acquiring an additional 240,258 shares during the period. Finally, State Street Corp increased its holdings in Owens Corning by 0.4% during the 1st quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after acquiring an additional 8,490 shares during the period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

In other Owens Corning news, insider Arnaud Genis sold 6,000 shares of Owens Corning stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.75, for a total transaction of $424,500.00. Following the completion of the transaction, the insider now directly owns 58,374 shares of the company’s stock, valued at $4,129,960.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael C. Mcmurray sold 14,000 shares of Owens Corning stock in a transaction on Friday, September 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the transaction, the chief financial officer now directly owns 40,903 shares of the company’s stock, valued at $3,129,897.56. The disclosure for this sale can be found here. Insiders sold 212,866 shares of company stock worth $15,644,970 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Shares of Owens Corning Inc (NYSE:OC) opened at 75.22 on Friday. The stock has a market cap of $8.36 billion, a PE ratio of 21.61 and a beta of 1.04. The stock has a 50 day moving average of $70.10 and a 200-day moving average of $64.57. Owens Corning Inc has a 52 week low of $46.45 and a 52 week high of $76.84.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.29 earnings per share. Owens Corning’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts predict that Owens Corning Inc will post $4.30 earnings per share for the current fiscal year.

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OC has been the topic of a number of analyst reports. SunTrust Banks, Inc. reaffirmed a “hold” rating on shares of Owens Corning in a report on Tuesday. BidaskClub raised shares of Owens Corning from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Owens Corning in a report on Sunday, July 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 target price on shares of Owens Corning in a report on Friday, September 1st. Finally, Instinet reaffirmed a “buy” rating and set a $74.00 target price on shares of Owens Corning in a report on Thursday, June 1st. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $72.10.

Owens Corning Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

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

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