Paradiem LLC Decreases Stock Holdings in Owens Corning Inc (NYSE:OC)

Paradiem LLC lessened its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 10.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,247 shares of the construction company's stock after selling 2,286 shares during the quarter. Paradiem LLC's holdings in Owens Corning were worth $2,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. FPC Investment Advisory Inc. bought a new position in Owens Corning during the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its stake in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after acquiring an additional 63 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Owens Corning during the fourth quarter valued at $34,000. IFP Advisors Inc raised its position in shares of Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock worth $40,000 after purchasing an additional 62 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Owens Corning by 195.1% in the 4th quarter. Assetmark Inc. now owns 239 shares of the construction company's stock worth $41,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

OC stock traded down $1.86 during trading on Wednesday, reaching $136.13. The company's stock had a trading volume of 461,041 shares, compared to its average volume of 862,100. The company has a market capitalization of $11.58 billion, a P/E ratio of 47.93, a price-to-earnings-growth ratio of 3.64 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.02. Owens Corning Inc has a 1 year low of $123.41 and a 1 year high of $214.53. The company's fifty day moving average is $138.07 and its 200-day moving average is $155.16.

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 firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm earned $3.40 EPS. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, research analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its board has approved a stock repurchase 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 usually an indication that the company's leadership believes its shares are undervalued.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $2.76 annualized dividend and a yield of 2.03%. Owens Corning's dividend payout ratio (DPR) is 97.18%.

Analysts Set New Price Targets

OC has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Royal Bank Of Canada reduced their target price on Owens Corning from $199.00 to $184.00 and set an "outperform" 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. Loop Capital reduced their price objective on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.