Cambridge Investment Research Advisors Inc. Purchases 3,298 Shares of Owens Corning Inc (NYSE:OC)

Cambridge Investment Research Advisors Inc. increased its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,921 shares of the construction company's stock after acquiring an additional 3,298 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Owens Corning were worth $4,416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OC. Bank Pictet & Cie Europe AG bought a new stake in Owens Corning during the 4th quarter worth $28,651,000. IFP Advisors Inc grew its position in Owens Corning by 35.6% during the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock worth $40,000 after acquiring an additional 62 shares during the last quarter. Lake Street Advisors Group LLC grew its position in Owens Corning by 9.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,422 shares of the construction company's stock worth $242,000 after acquiring an additional 125 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Owens Corning during the 4th quarter worth about $34,000. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Owens Corning by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 35,690 shares of the construction company's stock worth $6,079,000 after buying an additional 700 shares during the period. Institutional investors own 88.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on OC shares. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Barclays cut their target price on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company lifted their target price on Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wolfe Research raised Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Finally, UBS Group cut their target price on Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and an average price target of $183.80.

Owens Corning Stock Up 0.6%

Shares of NYSE:OC opened at $138.08 on Friday. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 48.62, a P/E/G ratio of 3.64 and a beta of 1.34. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.44 and a quick ratio of 0.93. The business's 50-day moving average is $138.06 and its 200-day moving average is $154.02. Owens Corning Inc has a 1 year low of $123.41 and a 1 year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data 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. Owens Corning had a return on equity of 25.03% and a net margin of 2.28%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $3.40 EPS. The firm's revenue was up 25.4% compared to the same quarter last year. Equities research analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning announced that its Board of Directors has approved a share repurchase 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. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's payout ratio is 97.18%.

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.

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