Skandinaviska Enskilda Banken AB publ Has $98.40 Million Stake in Owens Corning (NYSE:OC)

Skandinaviska Enskilda Banken AB publ cut its position in shares of Owens Corning (NYSE:OC) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 580,204 shares of the construction company’s stock after selling 171,057 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.68% of Owens Corning worth $98,397,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Verdence Capital Advisors LLC increased its holdings in Owens Corning by 7.8% in the third quarter. Verdence Capital Advisors LLC now owns 1,554 shares of the construction company’s stock worth $274,000 after purchasing an additional 112 shares in the last quarter. Atria Investments Inc grew its position in shares of Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of Owens Corning by 1.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 12,555 shares of the construction company’s stock valued at $2,216,000 after acquiring an additional 121 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Owens Corning by 7.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,784 shares of the construction company’s stock valued at $315,000 after acquiring an additional 116 shares during the period. Finally, Aptus Capital Advisors LLC boosted its stake in Owens Corning by 12.3% during the third quarter. Aptus Capital Advisors LLC now owns 53,547 shares of the construction company’s stock worth $9,452,000 after acquiring an additional 5,844 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

OC has been the topic of several research reports. Barclays dropped their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. UBS Group cut their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Citigroup lowered their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Stock Up 2.3 %

Owens Corning stock opened at $142.67 on Thursday. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53. The firm’s 50-day simple moving average is $171.15 and its 200 day simple moving average is $177.74. The stock has a market cap of $12.20 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted $3.21 earnings per share. Research analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.93%. Owens Corning’s payout ratio is currently 37.70%.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

About Owens Corning

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.