Owens Corning Inc (NYSE:OC) Stock Position Trimmed by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its stake in Owens Corning Inc (NYSE:OC - Free Report) by 76.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,104 shares of the construction company's stock after selling 6,748 shares during the period. Vontobel Holding Ltd.'s holdings in Owens Corning were worth $300,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OC. Assetmark Inc. lifted its position in Owens Corning by 195.1% in the fourth quarter. Assetmark Inc. now owns 239 shares of the construction company's stock valued at $41,000 after acquiring an additional 158 shares during the last quarter. Bessemer Group Inc. lifted its position in Owens Corning by 45.5% in the fourth quarter. Bessemer Group Inc. now owns 339 shares of the construction company's stock valued at $57,000 after acquiring an additional 106 shares during the last quarter. Covestor Ltd lifted its position in Owens Corning by 15.7% in the fourth quarter. Covestor Ltd now owns 464 shares of the construction company's stock valued at $79,000 after acquiring an additional 63 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Owens Corning by 13.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock valued at $125,000 after purchasing an additional 85 shares during the period. Finally, Coppell Advisory Solutions LLC increased its stake in Owens Corning by 101.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 763 shares of the construction company's stock valued at $129,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on OC. Evercore ISI set a $165.00 price objective on shares of Owens Corning in a research note on Thursday, May 15th. Loop Capital reduced their price target on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Owens Corning from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Royal Bank Of Canada dropped their price target on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $184.30.

Owens Corning Stock Down 1.8%

OC traded down $2.63 during trading hours on Friday, reaching $147.60. 668,822 shares of the stock traded hands, compared to its average volume of 864,769. The firm's fifty day simple moving average is $138.56 and its two-hundred day simple moving average is $152.02. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 3.89 and a beta of 1.33. 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 posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $3.40 EPS. The firm's revenue was up 25.4% compared to the same quarter last year. As a group, analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Monday, July 21st will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.87%. Owens Corning's payout ratio is currently 97.18%.

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