180 Wealth Advisors LLC Makes New Investment in Owens Corning (NYSE:OC)

180 Wealth Advisors LLC bought a new position in shares of Owens Corning (NYSE:OC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,921 shares of the construction company's stock, valued at approximately $988,000.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of Owens Corning by 7.6% during the 1st quarter. Parallel Advisors LLC now owns 2,775 shares of the construction company's stock worth $396,000 after buying an additional 197 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Owens Corning by 12,013.1% during the 1st quarter. GAMMA Investing LLC now owns 244,079 shares of the construction company's stock worth $34,859,000 after buying an additional 242,064 shares during the period. 111 Capital bought a new stake in Owens Corning in the fourth quarter valued at approximately $1,092,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Owens Corning by 5.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,162 shares of the construction company's stock valued at $1,220,000 after purchasing an additional 369 shares during the last quarter. Finally, Menard Financial Group LLC grew its holdings in Owens Corning by 3.6% during the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company's stock worth $387,000 after acquiring an additional 80 shares during the period. Institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of OC traded up $3.17 during trading hours on Tuesday, reaching $135.72. 914,223 shares of the stock traded hands, compared to its average volume of 841,874. The company has a market cap of $11.54 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company's 50-day moving average price is $138.99 and its two-hundred day moving average price is $162.42. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53.

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

Owens Corning declared that its board has approved a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have commented on OC. Royal Bank of Canada decreased their price target on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Barclays cut their price objective on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Loop Capital decreased their price target on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Evercore ISI set a $165.00 price objective on Owens Corning in a report on Thursday, May 15th. Finally, Wells Fargo & Company boosted their target price on shares of Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average price target of $183.80.

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.