Universal Beteiligungs und Servicegesellschaft mbH Has $10.06 Million Holdings in Owens Corning Inc (NYSE:OC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Owens Corning Inc by 52.4%, selling 77,619 shares during the first quarter, and now owns approximately 70,443 shares valued at $10.06 million.
• Owens Corning recently declared a quarterly dividend of $0.69 per share, with a 1.89% dividend yield, and authorized a share buyback plan for up to 12 million shares.
• Wall Street analysts have mixed outlooks, adjusting price targets downward for Owens Corning, with an average consensus rating of "Moderate Buy" and a consensus price target of $184.30.

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Owens Corning Inc (NYSE:OC - Free Report) by 52.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,443 shares of the construction company's stock after selling 77,619 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.08% of Owens Corning worth $10,061,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Owens Corning during the 4th quarter valued at about $208,519,000. Price T Rowe Associates Inc. MD boosted its position in shares of Owens Corning by 41.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after purchasing an additional 414,770 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Owens Corning during the 4th quarter valued at about $51,400,000. Raymond James Financial Inc. bought a new position in shares of Owens Corning during the 4th quarter valued at about $51,220,000. Finally, KBC Group NV boosted its holdings in shares of Owens Corning by 75.2% in the first quarter. KBC Group NV now owns 634,783 shares of the construction company's stock worth $90,659,000 after buying an additional 272,367 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Up 0.4%

Shares of NYSE:OC traded up $0.51 during mid-day trading on Tuesday, reaching $144.07. The stock had a trading volume of 163,775 shares, compared to its average volume of 921,671. The firm has a market cap of $12.25 billion, a PE ratio of 50.65, a price-to-earnings-growth ratio of 3.85 and a beta of 1.33. The firm has a 50 day simple moving average of $138.99 and a two-hundred day simple moving average of $149.46. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.02. Owens Corning Inc has a twelve month low of $123.40 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 25.03% and a net margin of 2.28%. Owens Corning's revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.40 earnings per share. On average, research analysts predict that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning declared that its board has authorized a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase 12,000,000 shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Monday, July 21st will be issued a $0.69 dividend. The ex-dividend date is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is presently 97.18%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays decreased their target price on shares of Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada decreased 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. Wells Fargo & Company raised their price target on shares of Owens Corning from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $184.30.

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.