BI Asset Management Fondsmaeglerselskab A S Sells 8,967 Shares of Owens Corning (NYSE:OC)

BI Asset Management Fondsmaeglerselskab A S lowered its position in Owens Corning (NYSE:OC - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,618 shares of the construction company's stock after selling 8,967 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.12% of Owens Corning worth $15,804,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Contravisory Investment Management Inc. bought a new position in Owens Corning in the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $27,000. VisionPoint Advisory Group LLC grew its holdings in Owens Corning by 53.0% during the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company's stock worth $35,000 after buying an additional 88 shares in the last quarter. Blue Trust Inc. raised its position in Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock valued at $36,000 after buying an additional 78 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Owens Corning during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OC. Argus upped their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Citigroup increased their price objective 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 target price on Owens Corning from $115.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, February 15th. Evercore ISI increased their price target on Owens Corning from $154.00 to $172.00 and gave the company an "in-line" rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on Owens Corning from $164.00 to $163.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 20th. Eight equities research 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 company's stock. Based on data from MarketBeat, Owens Corning has an average rating of "Moderate Buy" and a consensus target price of $168.21.

Insider Transactions at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of Owens Corning 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 completion of the transaction, the executive vice president now owns 20,419 shares of the company's stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company's stock.

Owens Corning Stock Performance

NYSE OC traded up $0.56 during trading on Monday, hitting $176.94. 340,810 shares of the company's stock traded hands, compared to its average volume of 659,189. The business has a 50 day moving average of $167.68 and a 200-day moving average of $152.20. Owens Corning has a 12-month low of $105.56 and a 12-month high of $181.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The stock has a market capitalization of $15.33 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 5.22 and a beta of 1.45.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly 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. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the company posted $2.77 EPS. Owens Corning's revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.56 earnings per share for the current fiscal year.

Owens Corning Profile

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.