Calamos Advisors LLC lowered its holdings in shares of Owens Corning Inc (NYSE:OC) by 28.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,180 shares of the construction company’s stock after selling 1,280 shares during the period. Calamos Advisors LLC’s holdings in Owens Corning were worth $213,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Owens Corning by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,371,554 shares of the construction company’s stock worth $636,503,000 after purchasing an additional 117,177 shares during the period. BlackRock Inc. boosted its stake in Owens Corning by 4,010.8% during the 1st quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after purchasing an additional 6,338,177 shares during the period. Dimensional Fund Advisors LP boosted its stake in Owens Corning by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,638,376 shares of the construction company’s stock worth $223,280,000 after purchasing an additional 280,680 shares during the period. Victory Capital Management Inc. boosted its stake in Owens Corning by 7.9% during the 1st quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock worth $202,370,000 after purchasing an additional 240,258 shares during the period. Finally, State Street Corp boosted its stake in Owens Corning by 0.4% during the 1st quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after purchasing an additional 8,490 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.
Owens Corning Inc (OC) opened at 76.80 on Monday. Owens Corning Inc has a 12-month low of $46.45 and a 12-month high of $76.84. The stock has a market capitalization of $8.54 billion, a P/E ratio of 22.06 and a beta of 1.04. The firm’s 50-day moving average is $69.01 and its 200 day moving average is $64.09.
Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion during 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 company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. Equities research analysts anticipate that Owens Corning Inc will post $4.28 earnings per share for the current year.
Several research firms have recently commented on OC. Stifel Nicolaus restated a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a research note on Friday, September 1st. Barclays PLC raised their target price on shares of Owens Corning from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and issued a $72.00 target price on shares of Owens Corning in a research note on Sunday, July 9th. BidaskClub upgraded shares of Owens Corning from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Wells Fargo & Company upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $83.00 in a research note on Wednesday, August 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $71.15.
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In other news, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total value of $1,409,839.36. Following the transaction, the insider now owns 80,143 shares in the company, valued at approximately $5,244,557.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Insiders sold a total of 91,710 shares of company stock valued at $6,316,765 over the last three months. 1.80% of the stock is owned by corporate insiders.
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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