Owens Corning (NYSE:OC) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in Owens Corning (NYSE:OC - Free Report) by 485.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,896 shares of the construction company's stock after purchasing an additional 74,543 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of Owens Corning worth $12,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OC. Stratos Wealth Partners LTD. grew its holdings in Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after acquiring an additional 53 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after acquiring an additional 122 shares in the last quarter. Savant Capital LLC grew its holdings in Owens Corning by 3.1% during the 4th quarter. Savant Capital LLC now owns 9,814 shares of the construction company's stock worth $1,672,000 after acquiring an additional 297 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Owens Corning by 19.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 205,956 shares of the construction company's stock worth $34,875,000 after acquiring an additional 33,783 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Owens Corning by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 39,805 shares of the construction company's stock worth $6,780,000 after acquiring an additional 487 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Stock Performance

Owens Corning stock traded down $4.50 during trading hours on Friday, reaching $134.35. 943,619 shares of the stock were exchanged, compared to its average volume of 855,354. The stock has a market cap of $11.43 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.88 and a beta of 1.34. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The firm's 50 day moving average is $138.59 and its 200 day moving average is $158.99.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $3.40 EPS. Owens Corning's quarterly revenue was up 25.4% on a year-over-year basis. Analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning declared that its board has authorized a share buyback program on Wednesday, May 14th that authorizes the company to buyback 12,000,000 outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. 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. Loop Capital lowered their target price on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Benchmark restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Wall Street Zen cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $183.80.

Owens Corning Company 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.