Canandaigua National Bank & Trust Co. Has $321,000 Stock Position in Owens Corning (NYSE:OC)

Canandaigua National Bank & Trust Co. cut its stake in Owens Corning (NYSE:OCFree Report) by 11.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,926 shares of the construction company’s stock after selling 254 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Owens Corning were worth $321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OC. Atria Wealth Solutions Inc. bought a new position in shares of Owens Corning during the third quarter valued at $251,000. Paralel Advisors LLC boosted its position in Owens Corning by 1.1% in the third quarter. Paralel Advisors LLC now owns 19,963 shares of the construction company’s stock valued at $2,723,000 after buying an additional 224 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Owens Corning by 226.0% during the third quarter. Loomis Sayles & Co. L P now owns 1,708 shares of the construction company’s stock worth $233,000 after buying an additional 1,184 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Owens Corning by 23.1% during the third quarter. Kestra Advisory Services LLC now owns 2,165 shares of the construction company’s stock worth $295,000 after buying an additional 406 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Owens Corning by 9.3% in the third quarter. Rafferty Asset Management LLC now owns 21,644 shares of the construction company’s stock valued at $2,952,000 after acquiring an additional 1,841 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OC shares. JPMorgan Chase & Co. dropped their price target on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Barclays upped their price target on shares of Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, June 3rd. Argus upped their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada boosted their price objective on shares of Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Evercore ISI increased their price objective on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday, April 25th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.07.

Read Our Latest Stock Analysis on OC

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 240 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the sale, the vice president now directly owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mari Doerfler sold 240 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now directly owns 4,954 shares of the company’s stock, valued at $901,875.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,360 shares of company stock valued at $2,916,365. Company insiders own 0.90% of the company’s stock.

Owens Corning Trading Up 1.4 %

Shares of NYSE:OC traded up $2.46 during mid-day trading on Tuesday, reaching $179.62. The stock had a trading volume of 155,953 shares, compared to its average volume of 644,618. The firm has a market cap of $15.57 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 5.26 and a beta of 1.46. The firm has a 50 day simple moving average of $173.39 and a two-hundred day simple moving average of $159.58. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a twelve month low of $109.95 and a twelve month high of $184.00.

Owens Corning (NYSE:OCGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm posted $2.77 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts predict that Owens Corning will post 15.48 EPS for the current fiscal year.

About Owens Corning

(Free Report)

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.

Further Reading

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

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