Owens Corning Inc (NYSE:OC) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its stake in Owens Corning Inc (NYSE:OC - Free Report) by 66.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,283 shares of the construction company's stock after buying an additional 4,513 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Owens Corning were worth $1,611,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. lifted 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 acquiring an additional 158 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Owens Corning by 45.5% in the fourth quarter. Bessemer Group Inc. now owns 339 shares of the construction company's stock valued at $57,000 after purchasing an additional 106 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Owens Corning in the first quarter valued at approximately $60,000. Covestor Ltd increased its stake in Owens Corning by 15.7% during the 4th quarter. Covestor Ltd now owns 464 shares of the construction company's stock worth $79,000 after buying an additional 63 shares during the period. Finally, Palouse Capital Management Inc. lifted its holdings in Owens Corning by 50.0% during the 1st quarter. Palouse Capital Management Inc. now owns 786 shares of the construction company's stock worth $112,000 after buying an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price for the company. Barclays reduced their price target on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. UBS Group lowered their price objective on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Evercore ISI set a $165.00 target price on shares of Owens Corning in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $184.30.

Owens Corning Stock Performance

Owens Corning stock traded down $2.63 during mid-day trading on Friday, reaching $147.60. 668,923 shares of the company were exchanged, compared to its average volume of 866,092. The firm's 50-day simple moving average is $138.56 and its two-hundred day simple moving average is $151.58. Owens Corning Inc has a twelve month low of $123.41 and a twelve month high of $214.53. The firm has a market cap of $12.55 billion, a PE ratio of 51.97, a price-to-earnings-growth ratio of 3.89 and a beta of 1.33. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share 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 firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $3.40 earnings per share. The company's revenue for the quarter was up 25.4% on a year-over-year basis. Equities analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Monday, July 21st will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's payout ratio is 97.18%.

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

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.