Royal Bank of Canada Sells Owens Corning Shares Amid Market Volatility

Royal Bank of Canada has reduced its stake in Owens Corning Inc (NYSE:OC) shares by 15.2% in the first quarter, according to a recent SEC filing.

The fund now owns 118,039 shares of the construction company's stock after selling 21,224 shares during the period. This represents about 0.15% of Owens Corning's outstanding shares and is valued at $12,774,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings in Owens Corning. Itau Unibanco Holding S.A. acquired a new position in the company in the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Owens Corning in the first quarter worth about $30,000.

Owens Corning recently announced its earnings results for the second quarter, beating analysts' consensus estimates of $3.09 with $3.93 earnings per share. The company's revenue for the quarter was up 0.3% on a year-over-year basis, and it has an average rating of 'Moderate Buy' among analysts.