Lbp Am Sa Has $2.48 Million Holdings in Owens Corning Inc (NYSE:OC)

LBP AM SA reduced its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 27.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,387 shares of the construction company's stock after selling 6,489 shares during the quarter. LBP AM SA's holdings in Owens Corning were worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Regents Gate Capital LLP bought a new stake in shares of Owens Corning in the 1st quarter valued at about $9,565,000. Trium Capital LLP increased its stake in shares of Owens Corning by 16.5% in the 1st quarter. Trium Capital LLP now owns 10,082 shares of the construction company's stock valued at $1,440,000 after acquiring an additional 1,430 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Owens Corning by 66.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 11,283 shares of the construction company's stock valued at $1,611,000 after acquiring an additional 4,513 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Owens Corning by 34.2% in the 1st quarter. Penserra Capital Management LLC now owns 7,222 shares of the construction company's stock valued at $1,029,000 after acquiring an additional 1,840 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Owens Corning by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 865,665 shares of the construction company's stock valued at $123,634,000 after acquiring an additional 5,819 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target for the company. Evercore ISI set a $165.00 target price on Owens Corning in a research note on Thursday, May 15th. Wells Fargo & Company increased their target price on Owens Corning from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Barclays lowered their target price on 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 lowered their target price on 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 eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $184.30.

Owens Corning Stock Down 1.8%

NYSE:OC traded down $2.63 during trading hours on Friday, reaching $147.60. 668,923 shares of the stock were exchanged, compared to its average volume of 866,092. Owens Corning Inc has a twelve month low of $123.41 and a twelve month high of $214.53. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.44 and a quick ratio of 0.93. The firm has a 50 day moving average of $138.56 and a 200 day moving average of $151.58. The stock has a market cap of $12.55 billion, a PE ratio of 51.97, a PEG ratio of 3.89 and a beta of 1.33.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. Owens Corning had a return on equity of 25.03% and a net margin of 2.28%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $3.40 EPS. The business's revenue was up 25.4% on a year-over-year basis. On average, equities analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Monday, July 21st will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, July 21st. Owens Corning's dividend payout ratio (DPR) is currently 97.18%.

Owens Corning announced that its board has approved a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 shares. This repurchase authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's management 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.