Sei Investments Co. lowered its position in Owens Corning (NYSE:OC) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 205,780 shares of the construction company’s stock after selling 6,594 shares during the quarter. Sei Investments Co.’s holdings in Owens Corning were worth $18,920,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Carnick & Kubik Group LLC boosted its holdings in Owens Corning by 11.8% in the 4th quarter. Carnick & Kubik Group LLC now owns 19,634 shares of the construction company’s stock worth $1,805,000 after buying an additional 2,080 shares during the period. Penserra Capital Management LLC boosted its holdings in Owens Corning by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock worth $366,000 after buying an additional 627 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of Owens Corning during the 4th quarter valued at about $370,000. LS Investment Advisors LLC bought a new position in shares of Owens Corning during the 4th quarter valued at about $198,000. Finally, KBC Group NV boosted its holdings in shares of Owens Corning by 31.3% during the 4th quarter. KBC Group NV now owns 278,126 shares of the construction company’s stock valued at $25,571,000 after purchasing an additional 66,290 shares during the last quarter. 93.65% of the stock is owned by institutional investors.
Shares of Owens Corning (NYSE:OC) opened at $87.44 on Monday. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9,726.91, a PE ratio of 21.75, a PEG ratio of 1.05 and a beta of 0.98. Owens Corning has a 1 year low of $57.11 and a 1 year high of $96.52.
Several research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Owens Corning from $79.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Wells Fargo & Co reissued an “outperform” rating on shares of Owens Corning in a report on Thursday, October 26th. Barclays set a $75.00 price objective on shares of Owens Corning and gave the company a “hold” rating in a report on Thursday, October 26th. Zelman & Associates downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $110.00 price objective (up previously from $95.00) on shares of Owens Corning in a report on Monday, January 22nd. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $86.24.
In other news, Director James J. Mcmonagle sold 4,136 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $87.20, for a total transaction of $360,659.20. Following the sale, the director now directly owns 47,925 shares in the company, valued at approximately $4,179,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael H. Thaman sold 101,600 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the sale, the chairman now owns 840,370 shares in the company, valued at $71,708,772.10. The disclosure for this sale can be found here. Insiders have sold a total of 127,420 shares of company stock worth $10,990,777 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
About Owens Corning
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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