Owens Corning (NYSE:OC) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Owens Corning (NYSE:OC - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 739,669 shares of the construction company's stock after buying an additional 12,394 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.86% of Owens Corning worth $125,980,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OC. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning in the fourth quarter valued at $28,000. Venturi Wealth Management LLC lifted its position 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 valued at $30,000 after acquiring an additional 63 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Owens Corning in the fourth quarter valued at $34,000. Finally, IFP Advisors Inc increased its stake in Owens Corning by 35.6% in the fourth 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 last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Up 0.7%

NYSE OC traded up $0.98 during mid-day trading on Thursday, reaching $134.51. 247,869 shares of the company's stock traded hands, compared to its average volume of 835,097. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The company has a fifty day simple moving average of $139.93 and a 200-day simple moving average of $164.09. 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 company has a market cap of $11.44 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.88 and a beta of 1.44.

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 for the quarter, beating analysts' consensus estimates 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 last year, the firm earned $3.40 EPS. Owens Corning's quarterly revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning declared that its board has approved a share repurchase program on Wednesday, May 14th that permits the company to buyback 12,000,000 outstanding shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

OC has been the subject of several analyst reports. Evercore ISI set a $165.00 target price on Owens Corning in a research note on Thursday, May 15th. UBS Group dropped their price target 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. Loop Capital dropped their price target 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. Barclays dropped their price target 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 upped their price target on Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and a consensus price target 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.