Owens Corning Inc (NYSE:OC) Shares Acquired by Achmea Investment Management B.V.

Achmea Investment Management B.V. lifted its holdings in shares of Owens Corning Inc (NYSE:OC - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,739 shares of the construction company's stock after acquiring an additional 7,451 shares during the period. Achmea Investment Management B.V. owned 0.13% of Owens Corning worth $15,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in Owens Corning by 7.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company's stock worth $260,000 after buying an additional 127 shares during the period. First Pacific Financial purchased a new stake in shares of Owens Corning in the first quarter valued at approximately $684,000. Wealthquest Corp purchased a new stake in shares of Owens Corning in the first quarter valued at approximately $458,000. Moran Wealth Management LLC boosted its stake in shares of Owens Corning by 31.4% in the first quarter. Moran Wealth Management LLC now owns 140,568 shares of the construction company's stock valued at $20,076,000 after buying an additional 33,631 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Owens Corning by 1.8% during the first quarter. Asset Management One Co. Ltd. now owns 32,459 shares of the construction company's stock worth $4,636,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Up 0.6%

NYSE:OC traded up $0.85 on Friday, hitting $138.08. 922,204 shares of the stock were exchanged, compared to its average volume of 861,773. The stock has a market cap of $11.74 billion, a PE ratio of 48.62, a PEG ratio of 3.64 and a beta of 1.34. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.02. The stock has a fifty day moving average of $138.06 and a 200-day moving average of $154.02. Owens Corning Inc has a fifty-two week low of $123.41 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The company 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 25.03% and a net margin of 2.28%. The firm's revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.40 earnings per share. As a group, equities analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Monday, July 21st will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's payout ratio is 97.18%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Loop Capital decreased their target price on Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company boosted their price target on Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Evercore ISI set a $165.00 price target on Owens Corning in a 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. Finally, Royal Bank Of Canada dropped their target price on Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $183.80.

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.