Crossmark Global Holdings Inc. Grows Stock Holdings in Owens Corning Inc (NYSE:OC)

Crossmark Global Holdings Inc. lifted its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 66.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,283 shares of the construction company's stock after acquiring an additional 4,513 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Owens Corning were worth $1,611,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OC. Bank Pictet & Cie Europe AG purchased a new stake in Owens Corning during the 4th quarter worth approximately $28,651,000. Jones Financial Companies Lllp increased its stake in Owens Corning by 82.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,223 shares of the construction company's stock worth $208,000 after buying an additional 551 shares in the last quarter. Assetmark Inc. increased its stake in Owens Corning by 195.1% during the 4th quarter. Assetmark Inc. now owns 239 shares of the construction company's stock worth $41,000 after buying an additional 158 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Owens Corning during the 4th quarter worth approximately $22,831,000. Finally, PNC Financial Services Group Inc. increased its stake in Owens Corning by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the construction company's stock worth $1,054,000 after buying an additional 327 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Down 2.0%

Shares of NYSE:OC traded down $2.98 during mid-day trading on Monday, reaching $144.46. 845,882 shares of the company were exchanged, compared to its average volume of 866,012. 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 firm has a market cap of $12.29 billion, a price-to-earnings ratio of 50.87, a P/E/G ratio of 3.89 and a beta of 1.33. The firm's 50-day simple moving average is $138.56 and its 200 day simple moving average is $151.58. 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 posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The firm's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $3.40 EPS. Equities research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 14th that allows the company to repurchase 12,000,000 shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. Owens Corning's payout ratio is currently 97.18%.

Analyst Ratings Changes

Several research firms have commented on OC. UBS Group cut their price objective on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada cut their price objective on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Loop Capital cut their price objective on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective for the company. Finally, Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $184.30.

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.