Owens Corning Inc $OC Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank trimmed its stake in Owens Corning by 83.7%, selling 340,240 shares in Q4 and leaving 66,372 shares (about 0.08% of the company) valued at $7.428 million.
• Owens Corning missed quarterly estimates, reporting EPS of $1.10 versus $1.36 expected and revenue of $2.14 billion (down 16.8% year‑over‑year), with a negative net margin of 5.17%.
• Analysts hold a consensus rating of Moderate Buy with a $143.91 target, though views vary—UBS raised its target to $172 while Weiss Ratings kept a sell rating.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Owens Corning Inc (NYSE:OC - Free Report) by 83.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,372 shares of the construction company's stock after selling 340,240 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Owens Corning worth $7,428,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pitcairn Co. boosted its stake in Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock valued at $250,000 after acquiring an additional 80 shares during the last quarter. Archer Investment Corp boosted its stake in Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company's stock valued at $106,000 after acquiring an additional 88 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in Owens Corning by 2.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company's stock valued at $447,000 after acquiring an additional 104 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Owens Corning by 7.2% during the 3rd quarter. Park Avenue Securities LLC now owns 1,652 shares of the construction company's stock valued at $234,000 after acquiring an additional 111 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its stake in Owens Corning by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company's stock valued at $1,626,000 after acquiring an additional 117 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on OC shares. UBS Group increased their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Bank of America reduced their price target on shares of Owens Corning from $140.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company raised their price target on shares of Owens Corning from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Royal Bank Of Canada set a $143.00 price target on shares of Owens Corning in a research report on Friday, January 9th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Owens Corning in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.91.

Owens Corning Stock Performance

Shares of OC opened at $125.74 on Friday. The firm's 50 day moving average is $115.21 and its 200-day moving average is $117.50. The stock has a market capitalization of $10.11 billion, a P/E ratio of -19.65, a P/E/G ratio of 2.17 and a beta of 1.35. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The business's revenue for the quarter was down 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 EPS. Equities research analysts anticipate that Owens Corning Inc will post 9.39 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 9th were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. Owens Corning's payout ratio is currently -49.38%.

Owens Corning 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.

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