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4-Traders Homepage  >  Equities  >  Nyse  >  Owens Corning    OC

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Owens Corning Inc (OC) Position Lowered by Legal & General Group Plc

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09/12/2017 | 10:24am CEST

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 companys 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 companys 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 companys 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 companys 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 companys 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 companys 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 companys 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 companys 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 companys 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 companys stock.

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 stocks 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 businesss 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.

(c) 2017 Emirates News Agency (WAM) Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 6 194 M
EBIT 2017 836 M
Net income 2017 459 M
Debt 2017 2 054 M
Yield 2017 1,08%
P/E ratio 2017 18,50
P/E ratio 2018 14,86
EV / Sales 2017 1,67x
EV / Sales 2018 1,51x
Capitalization 8 277 M
Chart OWENS CORNING
Duration : Period :
Owens Corning Technical Analysis Chart | OC | US6907421019 | 4-Traders
Technical analysis trends OWENS CORNING
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 75,2 $
Spread / Average Target 0,95%
EPS Revisions
Managers
NameTitle
Michael H. Thaman Chairman, President & Chief Executive Officer
Michael C. McMurray Chief Financial Officer & Senior Vice President
Steven Zerby Chief Information Officer & Vice President
James J. McMonagle Independent Director
W. Howard Morris Independent Director
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