BNP Paribas Financial Markets Buys 24,189 Shares of Owens Corning (NYSE:OC)

BNP Paribas Financial Markets lifted its stake in shares of Owens Corning (NYSE:OC - Free Report) by 28.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,348 shares of the construction company's stock after acquiring an additional 24,189 shares during the period. BNP Paribas Financial Markets owned 0.13% of Owens Corning worth $18,454,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Owens Corning in the 4th quarter worth $208,519,000. Price T Rowe Associates Inc. MD grew its position in Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after buying an additional 414,770 shares during the period. Raymond James Financial Inc. purchased a new stake in Owens Corning during the fourth quarter valued at about $51,220,000. Schonfeld Strategic Advisors LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $41,252,000. Finally, LGT Group Foundation purchased a new stake in Owens Corning during the fourth quarter valued at about $39,054,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OC. Royal Bank of Canada lowered their target price on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Owens Corning from $155.00 to $150.00 and set an "overweight" rating on the stock in a report on Thursday. Wolfe Research raised Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday. UBS Group lowered their price objective on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.55.

Owens Corning Stock Performance

NYSE OC traded up $6.84 during trading hours on Monday, hitting $143.28. The company's stock had a trading volume of 1,032,136 shares, compared to its average volume of 823,098. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53. The company's 50 day simple moving average is $141.09 and its two-hundred day simple moving average is $167.53. The company has a market cap of $12.19 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.40 EPS. As a group, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

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.