Owens Corning Inc $OC Stock Position Lifted by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its position in shares of Owens Corning Inc (NYSE:OC) by 333.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,363 shares of the construction company’s stock after buying an additional 5,663 shares during the period. UniSuper Management Pty Ltd’s holdings in Owens Corning were worth $1,052,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC lifted its holdings in Owens Corning by 0.6% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company’s stock worth $1,863,000 after buying an additional 74 shares during the last quarter. Menard Financial Group LLC lifted its holdings in shares of Owens Corning by 3.6% in the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock worth $387,000 after purchasing an additional 80 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Owens Corning by 13.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company’s stock worth $125,000 after purchasing an additional 85 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Owens Corning by 9.8% in the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the construction company’s stock worth $143,000 after purchasing an additional 89 shares during the last quarter. Finally, Archer Investment Corp lifted its holdings in shares of Owens Corning by 17.9% in the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock worth $94,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 2.7%

Shares of Owens Corning stock opened at $153.18 on Thursday. The company has a market capitalization of $12.81 billion, a P/E ratio of 39.79, a PEG ratio of 10.56 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. Owens Corning Inc has a 1-year low of $123.40 and a 1-year high of $214.53. The business’s fifty day moving average price is $147.00 and its two-hundred day moving average price is $142.75.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $4.64 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning announced that its board has approved a share buyback program on Wednesday, May 14th that permits the company to repurchase 12,000,000 outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Monday, July 21st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, July 21st. Owens Corning’s payout ratio is currently 71.69%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank Of Canada cut their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Barclays lifted their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. UBS Group cut their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Evercore ISI lifted their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the company an “in-line” rating in a research report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $184.60.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.