Owens Corning Inc (OC) Shares Sold by Eagle Asset Management Inc.
Eagle Asset Management Inc. reduced its holdings in Owens Corning Inc (NYSE:OC) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,654 shares of the construction company’s stock after selling 705 shares during the quarter. Eagle Asset Management Inc. owned about 0.06% of Owens Corning worth $5,138,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Creative Planning grew its position in Owens Corning by 104.3% during the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Owens Corning by 16.7% during the second quarter. Janney Montgomery Scott LLC now owns 12,088 shares of the construction company’s stock worth $809,000 after buying an additional 1,732 shares in the last quarter. Ingalls & Snyder LLC grew its position in Owens Corning by 7.1% during the second quarter. Ingalls & Snyder LLC now owns 4,550 shares of the construction company’s stock worth $304,000 after buying an additional 300 shares in the last quarter. Smithfield Trust Co. grew its position in Owens Corning by 9.2% during the second quarter. Smithfield Trust Co. now owns 3,608 shares of the construction company’s stock worth $241,000 after buying an additional 304 shares in the last quarter. Finally, ARP Americas LLC acquired a new stake in Owens Corning during the second quarter worth about $318,000. 94.55% of the stock is currently owned by institutional investors.
Shares of Owens Corning Inc (NYSE OC) traded up $2.55 on Tuesday, reaching $90.21. 1,962,300 shares of the company’s stock were exchanged, compared to its average volume of 1,055,675. Owens Corning Inc has a 1 year low of $50.77 and a 1 year high of $91.40. 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 company has a market capitalization of $9,751.39, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue was up 12.2% on a year-over-year basis. analysts expect that Owens Corning Inc will post 4.33 earnings per share for the current fiscal year.
In related news, Director John David Williams sold 3,684 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $88.64, for a total value of $326,549.76. Following the completion of the transaction, the director now owns 24,762 shares in the company, valued at approximately $2,194,903.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Howard Morris sold 2,026 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The disclosure for this sale can be found here. Insiders sold 256,633 shares of company stock valued at $20,429,927 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.
OC has been the topic of a number of recent research reports. Jefferies Group reissued a “buy” rating and set a $82.00 target price on shares of Owens Corning in a research report on Friday, October 6th. Stifel Nicolaus restated a “buy” rating and set a $83.00 price target on shares of Owens Corning in a research note on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. KeyCorp restated a “buy” rating and set a $84.00 price target on shares of Owens Corning in a research note on Wednesday, September 13th. Finally, Bank of America raised their price target on shares of Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Eight 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. The company currently has an average rating of “Buy” and an average target price of $78.70.
Owens Corning Company 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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