Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 13,600 Shares of Owens Corning (NYSE:OC)

27 Feb 2025, 09:45 by Mitch Edgeman · The Markets Daily

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Owens Corning (NYSE:OC – Free Report) by 56.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,704 shares of the construction company’s stock after selling 13,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Owens Corning were worth $1,823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OC. International Assets Investment Management LLC bought a new stake in shares of Owens Corning during the third quarter worth approximately $156,000. Forsta AP Fonden raised its stake in shares of Owens Corning by 18.6% during the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock worth $4,395,000 after buying an additional 3,900 shares during the last quarter. PFG Investments LLC raised its stake in shares of Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after buying an additional 68 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Owens Corning by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 211 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Owens Corning by 132.5% during the third quarter. Nisa Investment Advisors LLC now owns 11,893 shares of the construction company’s stock valued at $2,099,000 after purchasing an additional 6,778 shares during the period. 88.40% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OC shares. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays decreased their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI boosted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.00.

Read Our Latest Report on Owens Corning

Owens Corning Stock Performance

NYSE OC opened at $153.92 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s fifty day moving average price is $176.07 and its two-hundred day moving average price is $178.84. Owens Corning has a 1 year low of $147.20 and a 1 year high of $214.53. The firm has a market capitalization of $13.20 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

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

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

Owens Corning Company Profile

(Free Report)