Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Owens Corning (NYSE:OC)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Owens Corning (NYSE:OC) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 716,704 shares of the construction company’s stock after purchasing an additional 43,180 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Owens Corning were worth $124,506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Owens Corning in the 4th quarter worth about $118,251,000. Nordea Investment Management AB lifted its holdings in Owens Corning by 74.4% in the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after buying an additional 533,910 shares during the period. Panagora Asset Management Inc. boosted its position in Owens Corning by 2,813.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after acquiring an additional 365,853 shares in the last quarter. Swedbank AB purchased a new position in shares of Owens Corning during the 1st quarter worth approximately $60,424,000. Finally, William Blair Investment Management LLC bought a new position in shares of Owens Corning in the 2nd quarter worth approximately $31,818,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning Trading Up 3.4 %

Owens Corning stock opened at $178.20 on Friday. The business has a 50-day simple moving average of $167.63 and a two-hundred day simple moving average of $169.18. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The company has a market cap of $15.44 billion, a P/E ratio of 14.43, a P/E/G ratio of 3.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm earned $4.22 EPS. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts predict that Owens Corning will post 15.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Loop Capital increased their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Evercore ISI dropped their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Barclays dropped their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.23.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.