iSAM Funds UK Ltd Acquires 1,798 Shares of Owens Corning (NYSE:OC)

iSAM Funds UK Ltd grew its holdings in Owens Corning (NYSE:OC - Free Report) by 36.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,680 shares of the construction company's stock after acquiring an additional 1,798 shares during the period. Owens Corning accounts for approximately 0.8% of iSAM Funds UK Ltd's holdings, making the stock its 19th largest position. iSAM Funds UK Ltd's holdings in Owens Corning were worth $1,138,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OC. Norges Bank bought a new stake in Owens Corning in the fourth quarter worth approximately $208,519,000. Price T Rowe Associates Inc. MD grew its position in Owens Corning by 41.1% in 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 in the last quarter. Raiffeisen Bank International AG bought a new stake in Owens Corning in the fourth quarter worth approximately $51,400,000. Raymond James Financial Inc. bought a new stake in Owens Corning in the fourth quarter worth approximately $51,220,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Owens Corning in the fourth quarter worth $41,252,000. 88.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective for the company. Royal Bank of Canada reduced their price objective on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Barclays reduced their price objective on shares of Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Loop Capital reduced their price objective on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $186.64.

Owens Corning Trading Down 1.9%

Shares of OC stock opened at $142.37 on Tuesday. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 12.12, a P/E/G 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. The firm has a fifty day moving average of $141.14 and a 200-day moving average of $166.21.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.40 EPS. On average, equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that permits the company to buyback 12,000,000 shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

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.

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