UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 12,394 Shares of Owens Corning (NYSE:OC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Owens Corning (NYSE:OC - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 739,669 shares of the construction company's stock after purchasing an additional 12,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.86% of Owens Corning worth $125,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OC. Barclays PLC lifted its holdings in Owens Corning by 23.3% during the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after purchasing an additional 23,787 shares during the last quarter. HB Wealth Management LLC acquired a new position in Owens Corning during the 4th quarter valued at about $272,000. UMB Bank n.a. lifted its stake in Owens Corning by 46.2% in the fourth quarter. UMB Bank n.a. now owns 911 shares of the construction company's stock valued at $155,000 after buying an additional 288 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Owens Corning by 3.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,770 shares of the construction company's stock worth $1,153,000 after purchasing an additional 243 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Owens Corning by 103.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 24,251 shares of the construction company's stock valued at $4,130,000 after buying an additional 12,358 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada reduced their target price on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wall Street Zen lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Evercore ISI set a $165.00 price objective on shares of Owens Corning in a research report on Thursday, May 15th. Five investment 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 presently has a consensus rating of "Moderate Buy" and an average price target of $183.80.

Owens Corning Price Performance

Owens Corning stock traded down $4.17 during midday trading on Wednesday, reaching $133.58. The company's stock had a trading volume of 887,112 shares, compared to its average volume of 836,738. 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 stock has a market cap of $11.36 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The business has a 50-day moving average price of $140.15 and a 200-day moving average price of $164.31.

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

Owens Corning declared that its Board of Directors has approved a share repurchase program on Wednesday, May 14th that allows the company to buyback 12,000,000 outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Owens Corning Company 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.