Raymond James & Associates Has $7.02 Million Stock Holdings in Owens Corning (NYSE:OC)

Raymond James & Associates increased its holdings in shares of Owens Corning (NYSE:OC – Get Rating) by 13.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 82,276 shares of the construction company’s stock after purchasing an additional 10,071 shares during the period. Raymond James & Associates owned approximately 0.09% of Owens Corning worth $7,018,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OC. US Bancorp DE lifted its position in shares of Owens Corning by 4.0% during the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company’s stock worth $595,000 after purchasing an additional 249 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Owens Corning by 9.3% during the 1st quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company’s stock worth $238,000 after purchasing an additional 221 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Owens Corning by 24.9% during the 1st quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company’s stock worth $1,237,000 after purchasing an additional 2,693 shares during the last quarter. Bank of Montreal Can raised its holdings in Owens Corning by 10.8% in the 1st quarter. Bank of Montreal Can now owns 19,987 shares of the construction company’s stock valued at $1,888,000 after acquiring an additional 1,952 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Owens Corning by 245.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company’s stock valued at $333,000 after acquiring an additional 2,592 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on OC. Benchmark upped their price target on Owens Corning from $110.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Citigroup upped their price target on Owens Corning from $90.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Credit Suisse Group upped their price target on Owens Corning from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Bank of America upped their price target on Owens Corning from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, Truist Financial upped their price target on Owens Corning from $85.00 to $105.00 in a report on Friday, February 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.23.

Owens Corning Stock Down 1.3 %

NYSE OC opened at $110.13 on Friday. The firm has a market cap of $9.92 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. Owens Corning has a one year low of $72.97 and a one year high of $112.17. The stock’s 50 day simple moving average is $99.09 and its 200 day simple moving average is $94.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.17.

Owens Corning (NYSE:OC – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The construction company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. Owens Corning had a return on equity of 26.06% and a net margin of 13.54%. Owens Corning’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.84 EPS. As a group, sell-side analysts forecast that Owens Corning will post 10.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Paula Russell sold 2,000 shares of the stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $95.00, for a total transaction of $190,000.00. Following the sale, the executive vice president now directly owns 24,342 shares in the company, valued at approximately $2,312,490. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 8,000 shares of the stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $100.00, for a total value of $800,000.00. Following the transaction, the insider now directly owns 62,962 shares in the company, valued at approximately $6,296,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paula Russell sold 2,000 shares of the stock in a transaction on Friday, March 31st. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the completion of the transaction, the executive vice president now owns 24,342 shares in the company, valued at $2,312,490. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock worth $1,290,000 in the last three months. Insiders own 0.89% of the company’s stock.

Owens Corning Profile

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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.