Janney Montgomery Scott LLC reduced its stake in shares of Owens Corning (NYSE:OC) by 62.2% in the first quarter, Holdings Channel reports. The institutional investor owned 13,880 shares of the construction company’s stock after selling 22,828 shares during the period. Janney Montgomery Scott LLC’s holdings in Owens Corning were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc grew its stake in shares of Owens Corning by 0.6% in the third quarter. Vanguard Group Inc now owns 9,479,115 shares of the construction company’s stock worth $514,432,000 after purchasing an additional 58,689 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Owens Corning by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,164,180 shares of the construction company’s stock worth $139,161,000 after purchasing an additional 92,537 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Owens Corning by 13.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,121,717 shares of the construction company’s stock worth $137,293,000 after purchasing an additional 362,922 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Owens Corning by 5,667.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,135,185 shares of the construction company’s stock worth $49,000 after purchasing an additional 2,098,162 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Owens Corning by 22.8% in the third quarter. TIAA CREF Investment Management LLC now owns 2,043,039 shares of the construction company’s stock worth $110,876,000 after purchasing an additional 379,529 shares in the last quarter. Hedge funds and other institutional investors own 96.21% of the company’s stock.

Shares of Owens Corning stock opened at $48.99 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.83 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $5.39 billion, a PE ratio of 9.92, a PEG ratio of 1.25 and a beta of 1.21. Owens Corning has a fifty-two week low of $40.64 and a fifty-two week high of $67.43.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. Owens Corning had a net margin of 7.07% and a return on equity of 12.10%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. Equities analysts anticipate that Owens Corning will post 4.68 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on OC shares. Zacks Investment Research cut Owens Corning from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. Buckingham Research started coverage on Owens Corning in a research note on Friday, February 1st. They issued a “neutral” rating and a $54.00 price target for the company. Barclays set a $58.00 price target on Owens Corning and gave the stock a “buy” rating in a research note on Tuesday, February 5th. TheStreet raised Owens Corning from a “c+” rating to a “b-” rating in a research note on Thursday, February 14th. Finally, Zelman & Associates cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $61.07.

In other news, insider Marcio A. Sandri sold 3,700 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.01, for a total value of $173,937.00. Following the completion of the sale, the insider now owns 42,005 shares in the company, valued at $1,974,655.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Julian Francis sold 600 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $51.51, for a total value of $30,906.00. Following the completion of the sale, the insider now owns 76,662 shares of the company’s stock, valued at approximately $3,948,859.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,881 shares of company stock valued at $1,562,045. Insiders own 1.70% of the company’s stock.

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About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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