Barings LLC Grows Holdings in Owens Corning (OC)
Barings LLC grew its position in shares of Owens Corning (NYSE:OC) by 58.3% during the fourth quarter, HoldingsChannel reports. The firm owned 73,300 shares of the construction company’s stock after acquiring an additional 27,000 shares during the quarter. Barings LLC’s holdings in Owens Corning were worth $6,739,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC increased its position in shares of Owens Corning by 11.8% during the fourth quarter. Carnick & Kubik Group LLC now owns 19,634 shares of the construction company’s stock worth $1,805,000 after acquiring an additional 2,080 shares during the period. Penserra Capital Management LLC increased its position in shares of Owens Corning by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock worth $366,000 after acquiring an additional 627 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in shares of Owens Corning during the fourth quarter worth $370,000. LS Investment Advisors LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth $198,000. Finally, KBC Group NV increased its position in shares of Owens Corning by 31.3% during the fourth quarter. KBC Group NV now owns 278,126 shares of the construction company’s stock worth $25,571,000 after acquiring an additional 66,290 shares during the period. Institutional investors own 93.06% of the company’s stock.
Owens Corning (NYSE OC) opened at $86.32 on Thursday. The company has a market capitalization of $9,535.58, a price-to-earnings ratio of 21.32, a P/E/G ratio of 1.03 and a beta of 0.98. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. Owens Corning has a twelve month low of $56.92 and a twelve month high of $96.52.
In other Owens Corning news, CFO Michael C. Mcmurray sold 18,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $90.78, for a total value of $1,634,040.00. Following the completion of the transaction, the chief financial officer now owns 52,228 shares in the company, valued at $4,741,257.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael H. Thaman sold 101,600 shares of the company’s stock in a transaction on 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 completion of the transaction, the chairman now owns 840,370 shares of the company’s stock, valued at approximately $71,708,772.10. The disclosure for this sale can be found here. Insiders sold 127,420 shares of company stock worth $10,990,777 in the last three months. 1.80% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on OC. Credit Suisse Group reaffirmed an “outperform” rating and set a $110.00 price objective (up previously from $95.00) on shares of Owens Corning in a research report on Monday, January 22nd. They noted that the move was a valuation call. KeyCorp reaffirmed a “buy” rating and set a $115.00 price objective on shares of Owens Corning in a research report on Friday, January 12th. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Thursday, January 18th. Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Seaport Global Securities upped their price objective on Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $85.45.
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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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