New York State Common Retirement Fund Has $8.87 Million Stake in Owens Corning (NYSE:OC)

New York State Common Retirement Fund lowered its stake in Owens Corning (NYSE:OC) by 23.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 59,815 shares of the construction company’s stock after selling 18,528 shares during the quarter. New York State Common Retirement Fund’s holdings in Owens Corning were worth $8,866,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in Owens Corning during the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC raised its stake in shares of Owens Corning by 53.0% during the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after buying an additional 88 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Owens Corning in the third quarter valued at approximately $36,000. Finally, Blue Trust Inc. boosted its stake in Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of a number of analyst reports. Evercore ISI increased their price target on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Citigroup upped their price target on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Loop Capital boosted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Truist Financial increased their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Owens Corning Price Performance

NYSE:OC opened at $168.06 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 5.37 and a beta of 1.47. Owens Corning has a 12-month low of $103.41 and a 12-month high of $173.65. The stock’s 50 day moving average price is $161.05 and its two-hundred day moving average price is $147.07.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.77 earnings per share. On average, analysts anticipate that Owens Corning will post 14.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 657 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total value of $100,757.52. Following the transaction, the insider now owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gunner Smith sold 657 shares of Owens Corning stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction of $100,757.52. Following the completion of the sale, the insider now owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The disclosure for this sale can be found here. Insiders sold 12,572 shares of company stock worth $1,928,312 over the last three months. Insiders own 0.89% of the company’s stock.

Owens Corning Profile

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.