MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 4,189 Shares of Owens Corning Inc (NYSE:OC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Owens Corning Inc (NYSE:OC - Free Report) by 39.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,360 shares of the construction company's stock after selling 4,189 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Owens Corning were worth $908,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in Owens Corning in the fourth quarter valued at $28,000. Venturi Wealth Management LLC grew its position in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after purchasing an additional 63 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $34,000. IFP Advisors Inc grew its stake in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after purchasing an additional 62 shares during the period. Finally, Assetmark Inc. increased its holdings in Owens Corning by 195.1% during the fourth quarter. Assetmark Inc. now owns 239 shares of the construction company's stock worth $41,000 after buying an additional 158 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Down 1.5%

OC traded down $2.03 during midday trading on Thursday, reaching $130.57. 1,078,685 shares of the company's stock traded hands, compared to its average volume of 861,483. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 45.97, a P/E/G ratio of 3.50 and a beta of 1.34. Owens Corning Inc has a 52 week low of $123.41 and a 52 week high of $214.53. The firm has a fifty day moving average of $138.40 and a two-hundred day moving average of $157.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.44 and a quick ratio of 0.93.

Owens Corning (NYSE:OC - Get Free Report) last issued 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 business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The company's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.40 EPS. On average, equities analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its board has authorized a stock buyback plan on Wednesday, May 14th that permits the company to buyback 12,000,000 outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective 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 target price on Owens Corning in a research note on Thursday, May 15th. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Barclays cut their price objective on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Loop Capital cut 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and a consensus target price 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.