Legal & General Group Plc reduced its stake in Owens Corning Inc (NYSE:OC) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,134 shares of the construction company’s stock after selling 6,227 shares during the quarter. Legal & General Group Plc owned about 0.07% of Owens Corning worth $5,295,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of Owens Corning by 554.0% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,351 shares of the construction company’s stock worth $994,000 after acquiring an additional 13,851 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Owens Corning by 17.0% in the first quarter. JPMorgan Chase & Co. now owns 472,051 shares of the construction company’s stock worth $28,969,000 after acquiring an additional 68,626 shares during the period. TLP Group LLC lifted its stake in shares of Owens Corning by 75.3% in the first quarter. TLP Group LLC now owns 6,282 shares of the construction company’s stock worth $386,000 after acquiring an additional 2,699 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock worth $163,000 after acquiring an additional 232 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Owens Corning by 83.0% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 16,100 shares of the construction company’s stock worth $988,000 after acquiring an additional 7,300 shares during the period. 96.78% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Owens Corning in a research note on Monday, June 19th. FBR & Co lifted their price objective on Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research note on Thursday, July 27th. KeyCorp reaffirmed an “overweight” rating and issued a $75.00 price objective (up from $70.00) on shares of Owens Corning in a research note on Monday, June 26th. Credit Suisse Group initiated coverage on Owens Corning in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 price objective on the stock. Finally, Macquarie upgraded Owens Corning from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $54.00 to $68.00 in a report on Tuesday, June 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $71.15.

In other news, Director James J. Mcmonagle sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the transaction, the director now owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. 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 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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Shares of Owens Corning Inc (NYSE:OC) opened at 76.80 on Friday. Owens Corning Inc has a 12-month low of $46.45 and a 12-month high of $76.84. The stock’s 50 day moving average price is $69.01 and its 200 day moving average price is $64.09. The company has a market cap of $8.54 billion, a P/E ratio of 22.06 and a beta of 1.04.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Owens Corning Inc will post $4.28 EPS for the current year.

Owens Corning 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.

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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