Owens Corning (NYSE:OC) Shares Sold by GTS Securities LLC

GTS Securities LLC cut its position in Owens Corning (NYSE:OC - Free Report) by 70.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,248 shares of the construction company's stock after selling 2,952 shares during the quarter. GTS Securities LLC's holdings in Owens Corning were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Price T Rowe Associates Inc. MD grew its position in shares of Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock worth $242,337,000 after acquiring an additional 414,770 shares during the last quarter. Norges Bank purchased a new position in Owens Corning during the 4th quarter worth $208,519,000. Northern Trust Corp grew its position in Owens Corning by 27.4% during the 4th quarter. Northern Trust Corp now owns 964,861 shares of the construction company's stock worth $164,335,000 after purchasing an additional 207,677 shares during the last quarter. First Trust Advisors LP increased its stake in Owens Corning by 20.7% in the fourth quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock valued at $126,849,000 after purchasing an additional 127,785 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Owens Corning by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 739,669 shares of the construction company's stock valued at $125,980,000 after buying an additional 12,394 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OC. Wells Fargo & Company boosted their price target on Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wolfe Research raised Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Barclays decreased their price target on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $183.80.

Owens Corning Price Performance

Shares of OC traded down $1.54 during trading hours on Monday, reaching $132.41. The company had a trading volume of 1,016,008 shares, compared to its average volume of 841,568. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53. The firm has a 50 day simple moving average of $139.30 and a 200-day simple moving average of $162.85. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last issued its 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 net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business posted $3.40 earnings per share. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. Research analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 14th that permits the company to buyback 12,000,000 shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

About Owens Corning

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.