Owens Corning (NYSE:OC) Shares Acquired by Schroder Investment Management Group

Schroder Investment Management Group increased its position in Owens Corning (NYSE:OC – Get Rating) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 678,818 shares of the construction company’s stock after purchasing an additional 38,989 shares during the period. Schroder Investment Management Group’s holdings in Owens Corning were worth $57,903,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OC. Tobam bought a new stake in Owens Corning during the fourth quarter worth approximately $31,000. Belpointe Asset Management LLC bought a new stake in Owens Corning during the fourth quarter worth approximately $33,000. Brown Brothers Harriman & Co. bought a new stake in Owens Corning during the fourth quarter worth approximately $36,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Owens Corning during the fourth quarter worth approximately $41,000. Finally, Fifth Third Bancorp raised its holdings in Owens Corning by 42.3% during the fourth quarter. Fifth Third Bancorp now owns 552 shares of the construction company’s stock worth $47,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Owens Corning from $85.00 to $105.00 in a research report on Friday, February 17th. Benchmark lifted their price objective on shares of Owens Corning from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Royal Bank of Canada lifted their target price on shares of Owens Corning from $96.00 to $111.00 in a research note on Thursday, April 27th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $113.00 to $135.00 in a research note on Wednesday. Finally, UBS Group lifted their target price on shares of Owens Corning from $121.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.92.

Owens Corning Stock Performance

Shares of NYSE:OC traded up $0.31 on Friday, hitting $109.48. 23,359 shares of the company were exchanged, compared to its average volume of 868,208. The company’s 50 day moving average price is $100.44 and its two-hundred day moving average price is $95.42. Owens Corning has a one year low of $72.97 and a one year high of $112.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.86. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 1.81 and a beta of 1.41.

Owens Corning (NYSE:OC – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The construction company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.55. Owens Corning had a net margin of 13.54% and a return on equity of 26.06%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the firm posted $2.84 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Research analysts expect that Owens Corning will post 10.42 earnings per share for the current year.

Insider Activity at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total transaction of $300,000.00. Following the sale, the executive vice president now directly owns 21,364 shares of the company’s stock, valued at $2,136,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Paula Russell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total value of $300,000.00. Following the transaction, the executive vice president now directly owns 21,364 shares in the company, valued at $2,136,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marcio A. Sandri sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider now directly owns 62,962 shares of the company’s stock, valued at approximately $6,296,200. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock valued at $1,290,000 over the last quarter. 0.89% of the stock is owned by company insiders.

About Owens Corning

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Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber, and includes vertically integrated downstream activities.