Mn Services Vermogensbeheer B.V. Has $4.61 Million Stock Holdings in Owens Corning Inc (NYSE:OC)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,290 shares of the construction company's stock after selling 3,400 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Owens Corning were worth $4,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of 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 valued at $242,337,000 after purchasing an additional 414,770 shares during the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the fourth quarter valued at approximately $208,519,000. Northern Trust Corp increased its holdings in shares of Owens Corning by 27.4% in the fourth quarter. Northern Trust Corp now owns 964,861 shares of the construction company's stock valued at $164,335,000 after purchasing an additional 207,677 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 12,394 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

OC traded up $1.05 on Friday, reaching $131.64. The company had a trading volume of 1,829,835 shares, compared to its average volume of 862,097. Owens Corning Inc has a fifty-two week low of $123.41 and a fifty-two week high of $214.53. The stock has a market cap of $11.20 billion, a P/E ratio of 46.35, a P/E/G ratio of 3.48 and a beta of 1.34. The company's fifty day moving average is $138.17 and its 200 day moving average is $156.18. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 1.44.

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, beating analysts' consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the business earned $3.40 EPS. Owens Corning's quarterly revenue was up 25.4% on a year-over-year basis. As a group, analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.10%. Owens Corning's payout ratio is presently 97.18%.

Owens Corning announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback 12,000,000 outstanding shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

OC has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wall Street Zen lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays lowered their target price on shares of Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Wolfe Research raised shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average 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.