Nordea Investment Management AB Has $2.65 Million Stake in Owens Corning Inc (OC)

Nordea Investment Management AB lifted its stake in Owens Corning Inc (NYSE:OC) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,231 shares of the construction company’s stock after buying an additional 1,830 shares during the period. Nordea Investment Management AB’s holdings in Owens Corning were worth $2,648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Planning boosted its position in shares of Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Owens Corning by 11.1% in the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after acquiring an additional 296 shares in the last quarter. First Bank & Trust lifted its stake in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after acquiring an additional 104 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Owens Corning in the third quarter worth about $202,000. Finally, Worth Venture Partners LLC acquired a new position in shares of Owens Corning in the third quarter worth about $213,000. 94.55% of the stock is owned by institutional investors.

Shares of Owens Corning Inc (OC) traded up $2.55 during midday trading on Tuesday, reaching $90.21. The company’s stock had a trading volume of 1,962,300 shares, compared to its average volume of 1,055,675. Owens Corning Inc has a 12-month low of $50.77 and a 12-month high of $91.40. The firm has a market capitalization of $9,751.39, a PE ratio of 21.81, a P/E/G ratio of 1.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts anticipate that Owens Corning Inc will post 4.33 EPS for the current fiscal year.

Several research analysts recently commented on the company. Royal Bank Of Canada upgraded Owens Corning from an “outperform” rating to a “top pick” rating in a research note on Monday. SunTrust Banks boosted their price target on Owens Corning to $85.00 and gave the stock a “hold” rating in a research note on Tuesday, November 21st. Credit Suisse Group boosted their price target on Owens Corning from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Bank of America boosted their price target on Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Nomura boosted their price target on Owens Corning from $79.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $78.70.

In other news, VP Ava Harter sold 487 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $81.96, for a total transaction of $39,914.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael C. Mcmurray sold 14,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $76.52, for a total value of $1,071,280.00. Following the sale, the chief financial officer now owns 40,903 shares in the company, valued at $3,129,897.56. The disclosure for this sale can be found here. Insiders have sold 256,633 shares of company stock worth $20,429,927 in the last 90 days. 1.80% of the stock is currently owned by insiders.

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

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