Vest Financial LLC Sells 10,190 Shares of Owens Corning (NYSE:OC)

Vest Financial LLC reduced its stake in shares of Owens Corning (NYSE:OC - Free Report) by 71.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,165 shares of the construction company's stock after selling 10,190 shares during the period. Vest Financial LLC's holdings in Owens Corning were worth $595,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its holdings in Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC grew its stake in Owens Corning by 3.3% in the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock worth $305,000 after buying an additional 57 shares in the last quarter. Retirement Guys Formula LLC increased its stake in Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Owens Corning by 35.6% during the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after buying an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Owens Corning by 2.5% in 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. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Up 0.8%

NYSE:OC traded up $1.09 during trading hours on Thursday, reaching $138.81. 685,767 shares of the company traded hands, compared to its average volume of 852,309. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business's 50-day moving average price is $138.24 and its two-hundred day moving average price is $160.00. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The stock has a market capitalization of $11.81 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.88 and a beta of 1.34.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm earned $3.40 EPS. Owens Corning's quarterly revenue was up 25.4% compared to the same quarter last year. Analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning declared that its board has initiated a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase 12,000,000 outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally 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 analyst reports. Wolfe Research raised Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Royal Bank of Canada dropped their price target on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. UBS Group lowered their price target on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, Evercore ISI set a $165.00 price objective on Owens Corning in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.80.

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.