Credit Agricole S A Has $18.19 Million Stock Holdings in Owens Corning Inc $OC

Key Points

• Credit Agricole S A has reduced its stake in Owens Corning Inc by 4.6%, now owning approximately 127,370 shares, valued at $18.19 million, following the sale of 6,082 shares.
• Several institutional investors have increased their stakes in Owens Corning, with OneDigital Investment Advisors LLC raising its holding by 33.3% to 1,639 shares.
• Owens Corning recently announced a quarterly dividend of $0.69, with a dividend yield of 1.9%, and has authorized a share buyback plan for up to 12 million shares.

Credit Agricole S A trimmed its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,370 shares of the construction company's stock after selling 6,082 shares during the quarter. Credit Agricole S A owned 0.15% of Owens Corning worth $18,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Owens Corning in the first quarter valued at approximately $60,000. Archer Investment Corp boosted its position in shares of Owens Corning by 17.9% in the first quarter. Archer Investment Corp now owns 660 shares of the construction company's stock valued at $94,000 after acquiring an additional 100 shares during the period. Bayforest Capital Ltd bought a new position in Owens Corning in the first quarter worth $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Owens Corning by 13.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock worth $125,000 after purchasing an additional 85 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its position in Owens Corning by 101.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 763 shares of the construction company's stock worth $129,000 after purchasing an additional 384 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OC has been the subject of several research reports. Royal Bank Of Canada reduced their target price on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Barclays raised their target price on Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Loop Capital reduced their target price on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Evercore ISI raised their target price on Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company raised their target price on Owens Corning from $165.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and an average price target of $184.60.

Owens Corning Price Performance

Shares of NYSE OC traded up $0.55 during midday trading on Tuesday, reaching $154.07. 201,582 shares of the company traded hands, compared to its average volume of 922,205. Owens Corning Inc has a 12 month low of $123.40 and a 12 month high of $214.53. The firm has a market cap of $12.88 billion, a PE ratio of 40.02, a PEG ratio of 11.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The stock's 50-day simple moving average is $143.31 and its 200-day simple moving average is $144.32.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating analysts' consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the company posted $4.64 earnings per share. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Monday, July 21st were paid a $0.69 dividend. The ex-dividend date was Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.8%. Owens Corning's dividend payout ratio (DPR) is 71.69%.

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.