UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Owens Corning (NYSE:OC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Owens Corning (NYSE:OC - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 739,669 shares of the construction company's stock after buying an additional 12,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.86% of Owens Corning worth $125,980,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Voloridge Investment Management LLC grew its stake in shares of Owens Corning by 21.6% in the 4th quarter. Voloridge Investment Management LLC now owns 119,993 shares of the construction company's stock valued at $20,437,000 after buying an additional 21,313 shares during the period. Woodline Partners LP grew its stake in shares of Owens Corning by 482.1% in the 4th quarter. Woodline Partners LP now owns 73,546 shares of the construction company's stock valued at $12,526,000 after buying an additional 60,911 shares during the period. iSAM Funds UK Ltd grew its stake in shares of Owens Corning by 36.8% in the 4th quarter. iSAM Funds UK Ltd now owns 6,680 shares of the construction company's stock valued at $1,138,000 after buying an additional 1,798 shares during the period. Twinbeech Capital LP acquired a new stake in shares of Owens Corning in the 4th quarter valued at about $22,699,000. Finally, State of Wyoming boosted its stake in Owens Corning by 107.6% during the 4th quarter. State of Wyoming now owns 2,350 shares of the construction company's stock valued at $400,000 after purchasing an additional 1,218 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Up 2.9%

NYSE OC traded up $3.94 during trading on Tuesday, hitting $137.74. The stock had a trading volume of 996,442 shares, compared to its average volume of 836,537. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.88 and a beta of 1.44. Owens Corning has a one year low of $123.41 and a one year high of $214.53. The stock has a 50 day simple moving average of $140.34 and a 200 day simple moving average of $164.49.

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 for the quarter, beating the consensus estimate of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm posted $3.40 earnings per share. The company's revenue was up 25.4% on a year-over-year basis. Sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning announced that its board has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback 12,000,000 shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OC shares. Wells Fargo & Company lifted their price target on Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target for the company. Finally, Loop Capital cut 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. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.