Regents Gate Capital LLP Acquires New Position in Owens Corning Inc (NYSE:OC)

Regents Gate Capital LLP bought a new stake in Owens Corning Inc (NYSE:OC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 66,970 shares of the construction company's stock, valued at approximately $9,565,000. Owens Corning makes up approximately 4.1% of Regents Gate Capital LLP's portfolio, making the stock its 11th biggest holding. Regents Gate Capital LLP owned approximately 0.08% of Owens Corning as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OC. Assetmark Inc. boosted its stake in shares of Owens Corning by 195.1% in the 4th quarter. Assetmark Inc. now owns 239 shares of the construction company's stock valued at $41,000 after buying an additional 158 shares during the period. Bessemer Group Inc. boosted its stake in shares of Owens Corning by 45.5% in the 4th quarter. Bessemer Group Inc. now owns 339 shares of the construction company's stock valued at $57,000 after buying an additional 106 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Owens Corning in the 1st quarter valued at about $60,000. Covestor Ltd boosted its stake in shares of Owens Corning by 15.7% in the 4th quarter. Covestor Ltd now owns 464 shares of the construction company's stock valued at $79,000 after buying an additional 63 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Owens Corning by 13.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock valued at $125,000 after buying an additional 85 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Up 2.5%

Shares of OC traded up $3.68 during midday trading on Thursday, hitting $150.97. The company had a trading volume of 657,684 shares, compared to its average volume of 863,039. The company's 50 day moving average price is $138.47 and its 200 day moving average price is $152.16. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 53.05, a PEG ratio of 3.82 and a beta of 1.33. Owens Corning Inc has a 52 week low of $123.41 and a 52 week high of $214.53. 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 (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.15. The company had revenue of $2.53 billion during 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 revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.40 EPS. On average, equities research analysts predict that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that allows the company to buyback 12,000,000 shares. This buyback authorization allows the construction company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's dividend payout ratio is presently 97.18%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Loop Capital decreased their target price on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. UBS Group decreased their target price on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Barclays decreased their target price on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Wells Fargo & Company raised their target price on shares of Owens Corning from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $184.30.

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.