Curat Global LLC Invests $320,000 in Owens Corning (NYSE:OC)

Curat Global LLC bought a new position in Owens Corning (NYSE:OC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,242 shares of the construction company's stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Owens Corning by 41.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock worth $242,337,000 after buying an additional 414,770 shares during the last quarter. Norges Bank bought a new position in shares of Owens Corning in the 4th quarter worth $208,519,000. Northern Trust Corp increased its holdings in shares of Owens Corning by 27.4% in the 4th quarter. Northern Trust Corp now owns 964,861 shares of the construction company's stock worth $164,335,000 after buying an additional 207,677 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Owens Corning by 20.7% in the 4th quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock worth $126,849,000 after buying an additional 127,785 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Owens Corning by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 739,669 shares of the construction company's stock worth $125,980,000 after buying an additional 12,394 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 0.1%

OC traded down $0.20 during trading on Friday, hitting $135.32. 1,243,848 shares of the stock traded hands, compared to its average volume of 847,785. The firm has a market capitalization of $11.51 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.88 and a beta of 1.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a 50-day moving average of $138.49 and a 200 day moving average of $161.64. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53.

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

Owens Corning announced 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 purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently 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 on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a report on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price on the stock. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Loop Capital reduced their target price 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. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of "Moderate Buy" and a consensus target price 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.