Triodos Investment Management BV Trims Stock Position in Owens Corning (NYSE:OC)

Triodos Investment Management BV decreased its stake in Owens Corning (NYSE:OC - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,000 shares of the construction company's stock after selling 13,000 shares during the quarter. Owens Corning makes up 2.0% of Triodos Investment Management BV's holdings, making the stock its 22nd largest position. Triodos Investment Management BV owned about 0.16% of Owens Corning worth $20,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company's stock worth $202,932,000 after acquiring an additional 906,782 shares in the last quarter. Pacer Advisors Inc. boosted its position in Owens Corning by 6,116.6% during the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company's stock worth $123,415,000 after purchasing an additional 819,201 shares in the last quarter. Federated Hermes Inc. grew its holdings in Owens Corning by 1,602.4% in the third quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company's stock valued at $64,868,000 after purchasing an additional 447,606 shares during the period. Teacher Retirement System of Texas increased its position in shares of Owens Corning by 226.1% in the third quarter. Teacher Retirement System of Texas now owns 164,252 shares of the construction company's stock valued at $22,406,000 after buying an additional 113,890 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Owens Corning by 15.1% during the 4th quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company's stock worth $106,556,000 after buying an additional 94,185 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OC. Evercore ISI lifted their price target on shares of Owens Corning from $154.00 to $172.00 and gave the company an "in-line" rating in a research note on Thursday, April 25th. Barclays cut shares of Owens Corning from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Citigroup raised their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. Truist Financial boosted their price objective on Owens Corning from $115.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada increased their price objective on Owens Corning from $175.00 to $192.00 and gave the company an "outperform" rating in a research note on Thursday, April 25th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $168.21.

Owens Corning Trading Up 1.2 %

Shares of OC stock traded up $2.06 during trading on Tuesday, hitting $177.72. 467,292 shares of the stock traded hands, compared to its average volume of 665,905. Owens Corning has a 52-week low of $104.68 and a 52-week high of $179.20. The firm has a market capitalization of $15.40 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 5.30 and a beta of 1.45. The firm's fifty day moving average price is $166.36 and its 200-day moving average price is $150.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 earnings per share. As a group, research analysts forecast that Owens Corning will post 15.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the sale, the insider now owns 36,140 shares of the company's stock, valued at $5,384,498.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares of the company's stock, valued at approximately $5,384,498.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

About Owens Corning

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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