Davidson Capital Management Inc. Purchases Shares of 18,027 Owens Corning Inc (NYSE:OC)

Davidson Capital Management Inc. purchased a new stake in shares of Owens Corning Inc (NYSE:OC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,027 shares of the construction company's stock, valued at approximately $2,575,000.

Other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC grew its position in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after acquiring an additional 63 shares during the last quarter. Whipplewood Advisors LLC bought a new position in Owens Corning in the fourth quarter valued at about $34,000. IFP Advisors Inc grew its position in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after acquiring an additional 62 shares during the last quarter. Finally, Assetmark Inc. grew its position in Owens Corning by 195.1% in the fourth quarter. Assetmark Inc. now owns 239 shares of the construction company's stock valued at $41,000 after acquiring an additional 158 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on OC shares. UBS Group decreased their target price on Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen cut Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Loop Capital reduced their price target on Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.80.

Owens Corning Trading Up 0.8%

OC stock traded up $1.05 during trading on Friday, hitting $131.64. The company had a trading volume of 1,829,835 shares, compared to its average volume of 862,097. The business has a 50-day moving average of $138.17 and a 200-day moving average of $156.18. Owens Corning Inc has a one year low of $123.41 and a one year high of $214.53. The stock has a market cap of $11.20 billion, a PE ratio of 46.35, a PEG ratio of 3.48 and a beta of 1.34. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.02.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating 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 business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the business posted $3.40 earnings per share. The firm's revenue was up 25.4% on a year-over-year basis. Research analysts predict 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 approved a stock buyback 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. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, July 21st. Owens Corning's payout ratio is presently 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.