Unigestion Holding SA Takes Position in Owens Corning (NYSE:OC)

Unigestion Holding SA purchased a new stake in Owens Corning (NYSE:OC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,450 shares of the construction company's stock, valued at approximately $2,921,000.

Several other hedge funds also recently modified their holdings of OC. FPC Investment Advisory Inc. bought a new position in Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC boosted its position in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after buying an additional 63 shares during the period. Wilmington Savings Fund Society FSB boosted its position in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after buying an additional 122 shares during the period. Whipplewood Advisors LLC bought a new stake in Owens Corning during the 4th quarter worth approximately $34,000. Finally, IFP Advisors Inc increased its position in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Down 0.8%

OC traded down $1.13 during trading on Thursday, hitting $135.40. The company's stock had a trading volume of 1,404,647 shares, compared to its average volume of 844,357. The firm has a market capitalization of $11.52 billion, a P/E ratio of 11.52, a PEG ratio of 1.88 and a beta of 1.34. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The stock's fifty day moving average price is $138.64 and its 200-day moving average price is $162.06. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last released its 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 company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.40 EPS. Analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 14th that permits the company to repurchase 12,000,000 shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OC shares. Loop Capital cut their price target on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Evercore ISI set a $165.00 target price on Owens Corning in a report on Thursday, May 15th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Wells Fargo & Company increased their price target on Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $183.80.

Owens Corning Company Profile

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.