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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in Owens Corning (NYSE:OC - Free Report) by 39.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC boosted its stake in shares of Owens Corning by 3.3% in the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock valued at $305,000 after purchasing an additional 57 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock worth $40,000 after buying an additional 62 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock worth $439,000 after buying an additional 62 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after acquiring an additional 63 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Owens Corning by 15.7% during the 4th quarter. Covestor Ltd now owns 464 shares of the construction company's stock valued at $79,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OC. Royal Bank of Canada cut their price target on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. UBS Group reduced their target price on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target for the company. Wolfe Research raised shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. 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.com, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $183.80.

Owens Corning Trading Up 1.5%

Shares of Owens Corning stock traded up $1.97 on Monday, reaching $136.46. 795,818 shares of the company's stock were exchanged, compared to its average volume of 856,935. The company has a market capitalization of $11.61 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.34. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm's 50-day moving average is $138.59 and its two-hundred day moving average is $158.35.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results 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 company 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 9.92% and a return on equity of 25.82%. Owens Corning's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.40 EPS. Sell-side analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning announced that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that permits the company to repurchase 12,000,000 shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

About Owens Corning

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.