Skandinaviska Enskilda Banken AB publ Reduces Stake in Owens Corning Inc $OC

Skandinaviska Enskilda Banken AB publ lowered its position in Owens Corning Inc (NYSE:OC) by 24.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 349,058 shares of the construction company’s stock after selling 110,288 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Owens Corning were worth $49,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in shares of Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after purchasing an additional 184 shares during the period. Sivia Capital Partners LLC bought a new stake in Owens Corning during the second quarter valued at approximately $277,000. IFP Advisors Inc increased its holdings in Owens Corning by 76.0% during the second quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after buying an additional 199 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Owens Corning by 124.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,035 shares of the construction company’s stock worth $830,000 after acquiring an additional 3,351 shares during the period. Finally, Mutual Advisors LLC purchased a new position in shares of Owens Corning during the 2nd quarter worth $256,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 0.8%

Shares of OC opened at $134.16 on Tuesday. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $179.82. The company has a 50 day simple moving average of $121.04 and a two-hundred day simple moving average of $128.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market cap of $11.03 billion, a P/E ratio of -23.45, a price-to-earnings-growth ratio of 2.81 and a beta of 1.36.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 2.4%. Owens Corning’s payout ratio is presently -55.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OC shares. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. UBS Group reduced their price target on Owens Corning from $179.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Citigroup reduced their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.58.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.