Atlantic Trust Group LLC Sells 1,405 Shares of Owens Corning Inc (OC)
Atlantic Trust Group LLC lowered its position in Owens Corning Inc (NYSE:OC) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,245 shares of the construction company’s stock after selling 1,405 shares during the period. Atlantic Trust Group LLC’s holdings in Owens Corning were worth $686,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Owens Corning by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,371,554 shares of the construction company’s stock valued at $636,503,000 after purchasing an additional 117,177 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock valued at $398,669,000 after purchasing an additional 6,338,177 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Owens Corning by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,638,376 shares of the construction company’s stock valued at $223,280,000 after purchasing an additional 280,680 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Owens Corning by 7.9% in the first quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock valued at $202,370,000 after purchasing an additional 240,258 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Owens Corning by 0.4% in the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock valued at $141,507,000 after purchasing an additional 8,490 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.
Shares of Owens Corning Inc (OC) opened at 74.48 on Tuesday. The firm has a 50-day moving average price of $69.13 and a 200-day moving average price of $64.22. Owens Corning Inc has a 52-week low of $46.45 and a 52-week high of $76.84. The stock has a market capitalization of $8.28 billion, a P/E ratio of 21.40 and a beta of 1.04.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, analysts predict that Owens Corning Inc will post $4.28 EPS for the current year.
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In other news, CFO Michael C. Mcmurray sold 14,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the transaction, the chief financial officer now directly owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kelly Schmidt sold 1,462 shares of the stock in a transaction on 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 have sold a total of 105,710 shares of company stock worth $7,388,045 over the last three months. Insiders own 1.80% of the company’s stock.
A number of research analysts have recently weighed in on OC shares. Stifel Nicolaus restated a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and issued a $77.00 target price on shares of Owens Corning in a report on Wednesday, July 19th. Barclays PLC raised their target price on Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. BidaskClub upgraded Owens Corning from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Wells Fargo & Company upgraded Owens Corning from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $83.00 in a report on Wednesday, August 30th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Owens Corning has a consensus rating of “Buy” and a consensus target price of $71.65.
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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