Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in On Holding AG $ONON

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in On Holding AG (NYSE:ONON) by 54.5% during the fourth quarter, HoldingsChannel reports. The firm owned 177,200 shares of the company’s stock after purchasing an additional 62,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ON were worth $8,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its position in ON by 88.9% in the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock valued at $40,000 after buying an additional 400 shares during the period. United Financial Planning Group LLC purchased a new position in shares of ON during the third quarter worth approximately $42,000. Horizon Investments LLC bought a new stake in shares of ON during the third quarter valued at approximately $44,000. Signaturefd LLC boosted its holdings in shares of ON by 137.4% in the fourth quarter. Signaturefd LLC now owns 1,244 shares of the company’s stock valued at $58,000 after purchasing an additional 720 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of ON in the fourth quarter valued at approximately $62,000. Institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of ON in a report on Thursday, February 26th. Truist Financial dropped their price target on ON from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Barclays cut their price target on ON from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Guggenheim decreased their price objective on ON from $59.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of ON in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.40.

ON Stock Down 0.3%

ON stock opened at $35.15 on Monday. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. The firm has a market cap of $22.43 billion, a P/E ratio of 48.82, a P/E/G ratio of 0.71 and a beta of 2.09. The business has a fifty day moving average of $37.48 and a two-hundred day moving average of $42.08. On Holding AG has a twelve month low of $31.41 and a twelve month high of $61.29.

Insider Activity at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 20,750 shares of company stock valued at $745,838.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.