Universal Beteiligungs und Servicegesellschaft mbH Purchases New Holdings in Owens Corning (NYSE:OC)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Owens Corning (NYSE:OC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 148,062 shares of the construction company's stock, valued at approximately $25,218,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.17% of Owens Corning as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FPC Investment Advisory Inc. purchased a new position in Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its stake in 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 purchasing an additional 63 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in 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 purchasing an additional 122 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in Owens Corning in the fourth quarter valued at approximately $34,000. Finally, IFP Advisors Inc lifted 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. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

Shares of Owens Corning stock traded down $1.40 on Friday, hitting $133.90. 1,470,128 shares of the company's stock were exchanged, compared to its average volume of 841,987. The company has a 50-day simple moving average of $139.30 and a 200-day simple moving average of $163.30. The stock has a market capitalization of $11.39 billion, a PE ratio of 11.40, a PEG ratio of 1.88 and a beta of 1.44. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

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, beating analysts' consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the company earned $3.40 EPS. Owens Corning's revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

OC has been the topic of several research analyst reports. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Wells Fargo & Company upped their price objective on Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. UBS Group dropped their price objective on Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Royal Bank of Canada dropped their target price on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Five investment 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 an average rating of "Moderate Buy" and an average target price 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.