Owens Corning Inc (OC) Position Lessened by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. lessened its holdings in Owens Corning Inc (NYSE:OC) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,275 shares of the construction company’s stock after selling 296 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Owens Corning were worth $353,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Creative Planning raised its position in shares of Owens Corning by 104.3% in 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. Point72 Asia Hong Kong Ltd raised its position in shares of Owens Corning by 457.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock worth $141,000 after buying an additional 1,888 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Owens Corning by 11.1% in the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after buying an additional 296 shares in the last quarter. First Bank & Trust raised its position in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Owens Corning in the second quarter worth $227,000. Institutional investors own 96.78% of the company’s stock.
In other Owens Corning news, insider Brian Chambers sold 16,600 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $67.18, for a total value of $1,115,188.00. Following the transaction, the insider now directly owns 39,957 shares in the company, valued at approximately $2,684,311.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total transaction of $102,851.70. The disclosure for this sale can be found here. Insiders have sold a total of 212,866 shares of company stock worth $15,644,970 over the last quarter. 1.80% of the stock is currently owned by insiders.
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Owens Corning Inc (OC) opened at 75.50 on Monday. The company has a market capitalization of $8.40 billion, a PE ratio of 21.69 and a beta of 1.04. The stock’s 50 day moving average price is $70.31 and its 200-day moving average price is $64.69. Owens Corning Inc has a 52 week low of $46.45 and a 52 week high of $76.84.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities research analysts predict that Owens Corning Inc will post $4.30 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on OC. SunTrust Banks, Inc. reiterated a “hold” rating on shares of Owens Corning in a research report on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Owens Corning in a research note on Thursday, July 27th. Royal Bank Of Canada reissued a “buy” rating and issued a $79.00 target price on shares of Owens Corning in a research note on Friday, July 28th. Finally, BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Owens Corning presently has a consensus rating of “Buy” and a consensus target price of $72.10.
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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