Raiffeisen Bank International AG Increases Holdings in Owens Corning Inc $OC

Raiffeisen Bank International AG grew its holdings in shares of Owens Corning Inc (NYSE:OC) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 353,302 shares of the construction company’s stock after buying an additional 38,885 shares during the quarter. Raiffeisen Bank International AG’s holdings in Owens Corning were worth $39,976,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pitcairn Co. lifted its holdings in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after acquiring an additional 80 shares during the last quarter. Viawealth LLC lifted its stake in Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after purchasing an additional 88 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in Owens Corning by 2.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock worth $447,000 after purchasing an additional 104 shares in the last quarter. Lido Advisors LLC lifted its stake in Owens Corning by 6.4% during the fourth quarter. Lido Advisors LLC now owns 1,904 shares of the construction company’s stock worth $213,000 after purchasing an additional 115 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its stake in Owens Corning by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 117 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OC has been the topic of a number of research reports. Evercore set a $139.00 price target on Owens Corning in a research note on Thursday, May 7th. Bank of America decreased their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company upped their price target on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average price target of $144.82.

Owens Corning Stock Performance

NYSE:OC opened at $121.62 on Friday. The firm has a market capitalization of $9.79 billion, a PE ratio of -18.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.34. The business’s fifty day moving average price is $118.47 and its 200 day moving average price is $117.85. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, sell-side analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the transaction, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. This trade represents a 38.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.