Groupama Asset Managment Has $982,000 Stock Holdings in Owens Corning Inc $OC

Key Points

• Groupama Asset Management increased its holdings in Owens Corning Inc by 42.4%, acquiring an additional 2,050 shares, bringing its total to 6,886 shares worth $982,000.
• Owens Corning reported $4.21 earnings per share for the last quarter, surpassing expectations of $3.80, and had a 10% year-over-year revenue increase to $2.75 billion.
• The company declared a quarterly dividend of $0.69, reflecting an annual yield of 1.9%, with a payout ratio of 71.69%.

Groupama Asset Managment raised its position in Owens Corning Inc (NYSE:OC - Free Report) by 42.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,886 shares of the construction company's stock after acquiring an additional 2,050 shares during the period. Groupama Asset Managment's holdings in Owens Corning were worth $982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. Fuller & Thaler Asset Management Inc. lifted its stake in Owens Corning by 108.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 32,249 shares of the construction company's stock worth $4,606,000 after purchasing an additional 16,782 shares during the period. Quantbot Technologies LP lifted its stake in Owens Corning by 820.3% during the first quarter. Quantbot Technologies LP now owns 56,914 shares of the construction company's stock worth $8,128,000 after purchasing an additional 50,730 shares during the period. Aptus Capital Advisors LLC lifted its stake in Owens Corning by 10.4% during the first quarter. Aptus Capital Advisors LLC now owns 69,797 shares of the construction company's stock worth $9,968,000 after purchasing an additional 6,571 shares during the period. Brooklyn Investment Group lifted its stake in Owens Corning by 260.8% during the first quarter. Brooklyn Investment Group now owns 783 shares of the construction company's stock worth $112,000 after purchasing an additional 566 shares during the period. Finally, Versor Investments LP bought a new position in Owens Corning during the first quarter worth about $1,574,000. Institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $0.55 during midday trading on Tuesday, reaching $154.07. The company had a trading volume of 201,582 shares, compared to its average volume of 922,205. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 11.13 and a beta of 1.32. The stock has a fifty day simple moving average of $143.31 and a 200 day simple moving average of $144.32. Owens Corning Inc has a 1-year low of $123.40 and a 1-year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly 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. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.64 earnings per share. As a group, equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current year.

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

Owens Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

OC has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Royal Bank Of Canada cut their target price on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Evercore ISI lifted their target price on shares of Owens Corning from $165.00 to $169.00 and gave the company an "in-line" rating in a research note on Friday, August 8th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $165.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group cut their target price on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $184.60.

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.