Vontobel Holding Ltd. Sells 6,748 Shares of Owens Corning Inc (NYSE:OC)

Vontobel Holding Ltd. cut its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 76.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,104 shares of the construction company's stock after selling 6,748 shares during the quarter. Vontobel Holding Ltd.'s holdings in Owens Corning were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its position in shares of Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock worth $305,000 after purchasing an additional 57 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock worth $439,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd boosted its position in shares of Owens Corning by 15.7% during the fourth quarter. Covestor Ltd now owns 464 shares of the construction company's stock worth $79,000 after purchasing an additional 63 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of Owens Corning by 0.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company's stock worth $1,863,000 after purchasing an additional 74 shares in the last quarter. Finally, Menard Financial Group LLC boosted its position in shares of Owens Corning by 3.6% during the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company's stock worth $387,000 after purchasing an additional 80 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Loop Capital cut their price objective on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada cut their price objective on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Tuesday. UBS Group cut their price objective on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Wolfe Research raised shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $184.30.

Owens Corning Stock Up 1.7%

Owens Corning stock opened at $144.77 on Wednesday. The firm has a market capitalization of $12.31 billion, a PE ratio of 50.98, a P/E/G ratio of 3.76 and a beta of 1.33. The company's 50-day moving average is $138.42 and its 200-day moving average is $152.19. Owens Corning Inc has a fifty-two week low of $123.41 and a fifty-two week high of $214.53. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.44 and a quick ratio of 0.93.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping 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 2.28% and a return on equity of 25.03%. Owens Corning's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.40 EPS. Sell-side analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

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

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be paid a $0.69 dividend. The ex-dividend date is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a yield of 1.91%. Owens Corning's dividend payout ratio (DPR) is currently 97.18%.

Owens Corning 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.

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