Owens Corning (NYSE:OC) Shares Sold by Gould Capital LLC

Gould Capital LLC reduced its holdings in Owens Corning (NYSE:OC - Free Report) by 97.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189 shares of the construction company's stock after selling 6,560 shares during the period. Gould Capital LLC's holdings in Owens Corning were worth $32,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Stratos Wealth Partners LTD. grew its holdings in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust boosted its position in shares of Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after acquiring an additional 56 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Owens Corning by 3.3% in 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 period. Retirement Guys Formula LLC grew its holdings in shares of Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after purchasing an additional 60 shares during the period. Finally, IFP Advisors Inc increased its position in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock worth $40,000 after purchasing an additional 62 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Up 1.3%

Shares of OC stock traded up $1.67 during trading hours on Thursday, reaching $135.20. The company had a trading volume of 703,661 shares, compared to its average volume of 836,863. The company has a market capitalization of $11.50 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The stock's fifty day simple moving average is $139.93 and its 200 day simple moving average is $164.09.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.40 EPS. As a group, sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that authorizes the company to buyback 12,000,000 outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target for the company. Benchmark restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. decreased their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.80.

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.