Banque Pictet & Cie 13F: Cuts Owens Corning (OC) Stake by $46M

In a filing on October 16, 2026, Banque Pictet & Cie disclosed a reduction in its stake in Owens Corning (NYSE: OC), cutting its holdings by 398,161 shares. The fund now holds 112,810 shares, valued at approximately $13.2 million.

What Changed in Banque Pictet & Cie's Owens Corning Position

Banque Pictet & Cie reduced its position in Owens Corning by 398,161 shares, which is a 77.9% decrease from its previous holdings of 510,971 shares. This change reflects the fund's decision to trim its investment in the building products company.

Other Institutional Activity in Owens Corning

Other institutional investors have also adjusted their positions in Owens Corning. Blackrock Inc. reduced its holdings by 396,056 shares, leaving it with 8,814,550 shares worth about $994.3 million. Vanguard Portfolio Management LLC cut its stake by 39,660 shares, bringing its total to 5,468,670 shares valued at around $616.9 million. Meanwhile, AQR Capital Management, LLC increased its holding by 1,138,974 shares, totaling 3,679,060 shares valued at about $415 million.

Owens Corning Stock Down 1.3%

Owens Corning shares recently traded around $112.17, which is below both the 50-day moving average of $132.72 and the 200-day moving average of $126.19. The stock is also about 29.9% lower than its 52-week high of $159.91, indicating some challenges for the company in the current market environment.

Recent Earnings

In its most recent earnings report, Owens Corning reported trailing twelve-month revenue of approximately $9.85 billion, but its earnings per share (EPS) for the same period were negative at -$5.07. The company will report its next earnings on November 4, 2026.

Dividend

Owens Corning has an annual dividend rate of $3.16, which translates to a yield of 2.78%. This yield is relatively attractive, especially when considering the company's payout ratio of 103.9%.

Insider Buying and Selling at Owens Corning

Recent insider trading activity includes several sales by officers of the company. Mari Doerfler sold 1,926 shares at an average price of $120.92 on May 8, 2026, totaling approximately $232,884. Rachel Barthelemy Marcon sold 700 shares at $120.71 on May 28, 2026, valued at about $84,497, and another 900 shares at $144.07 on August 28, 2026, totaling approximately $129,663.

Analysts Set New Price Targets

On October 16, 2026, Wells Fargo maintained its Overweight rating on Owens Corning, setting a price target of $125. This follows a downgrade from RBC Capital, which reduced its target to $127, and a maintenance of the target at $162 by Barclays. The consensus among analysts is a buy rating, with a mean price target of $148.5.

About Owens Corning

Owens Corning is based in Toledo, OH, and focuses on manufacturing building products for both residential and commercial use. Its portfolio includes roofing, insulation, and door products, serving markets in the U.S., Europe, and beyond. The recent filings indicate a more cautious outlook among major investors.

Bottom Line

Investors should keep an eye on Owens Corning's upcoming earnings report on November 4, 2026. The recent cuts by Banque Pictet & Cie and other funds reflect a reevaluation of the company's position in the market. As this filing only represents past holdings, the current investor landscape may differ significantly. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.