Carolina Wealth Advisors LLC Has $256,000 Position in Owens Corning Inc (NYSE:OC)

Carolina Wealth Advisors LLC lowered its position in Owens Corning Inc (NYSE:OC - Free Report) by 59.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,789 shares of the construction company's stock after selling 2,638 shares during the period. Carolina Wealth Advisors LLC's holdings in Owens Corning were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. CoreCap Advisors LLC grew its stake in shares of Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock valued at $305,000 after purchasing an additional 57 shares during the last quarter. IFP Advisors Inc increased its stake in shares of 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 buying an additional 62 shares during the period. Parallel Advisors LLC increased its stake in shares of Owens Corning by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after buying an additional 62 shares during the period. Covestor Ltd raised its position in shares of Owens Corning by 15.7% during the fourth quarter. Covestor Ltd now owns 464 shares of the construction company's stock worth $79,000 after acquiring an additional 63 shares during the last quarter. Finally, Norden Group LLC lifted its stake in shares of Owens Corning by 6.4% during the fourth quarter. Norden Group LLC now owns 1,224 shares of the construction company's stock valued at $208,000 after acquiring an additional 74 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on OC shares. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective for the company. UBS Group dropped their price target on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Royal Bank Of Canada dropped their target price on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Evercore ISI set a $165.00 price target on Owens Corning in a research note on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $183.80.

Owens Corning Trading Up 0.6%

Owens Corning stock traded up $0.85 during mid-day trading on Friday, hitting $138.08. 922,204 shares of the company's stock were exchanged, compared to its average volume of 861,944. The company's 50 day simple moving average is $138.06 and its 200-day simple moving average is $154.33. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $11.74 billion, a P/E ratio of 48.62, a PEG ratio of 3.62 and a beta of 1.34. Owens Corning Inc has a fifty-two week low of $123.41 and a fifty-two week 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $3.40 earnings per share. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, July 21st. This represents a $2.76 annualized dividend and a yield of 2.00%. Owens Corning's dividend payout ratio (DPR) is currently 97.18%.

Owens Corning announced that its board has approved a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Owens Corning 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.