Candriam Luxembourg S.C.A. lifted its stake in Owens Corning (NYSE:OC) by 449.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,088 shares of the construction company’s stock after buying an additional 18,066 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Owens Corning were worth $1,776,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in OC. Strs Ohio purchased a new stake in Owens Corning during the fourth quarter valued at $129,000. Balter Liquid Alternatives LLC purchased a new stake in Owens Corning during the first quarter valued at $162,000. Focused Wealth Management Inc purchased a new stake in Owens Corning during the fourth quarter valued at $175,000. Avestar Capital LLC purchased a new stake in Owens Corning during the fourth quarter valued at $176,000. Finally, LS Investment Advisors LLC purchased a new stake in Owens Corning during the fourth quarter valued at $198,000. 92.49% of the stock is currently owned by institutional investors.
NYSE OC opened at $65.20 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $7.20 billion, a PE ratio of 14.82, a P/E/G ratio of 0.65 and a beta of 1.08. Owens Corning has a 12 month low of $61.00 and a 12 month high of $96.52.
A number of equities research analysts recently issued reports on OC shares. Argus downgraded shares of Owens Corning from a “buy” rating to a “hold” rating and upped their price target for the company from $96.52 to $109.00 in a research note on Friday, June 1st. KeyCorp reduced their target price on shares of Owens Corning from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, April 26th. They noted that the move was a valuation call. Wells Fargo & Co downgraded shares of Owens Corning from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $96.52 to $59.96 in a research note on Monday, May 14th. Royal Bank of Canada downgraded shares of Owens Corning from a “top pick” rating to an “outperform” rating and increased their target price for the company from $88.00 to $102.00 in a research note on Monday, April 30th. Finally, Nomura raised shares of Owens Corning from a “neutral” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.28.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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