Vontobel Holding Ltd. Has $300,000 Holdings in Owens Corning Inc (NYSE:OC)

Vontobel Holding Ltd. lowered its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 76.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of Owens Corning by 195.1% during the 4th quarter. Assetmark Inc. now owns 239 shares of the construction company's stock worth $41,000 after purchasing an additional 158 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Owens Corning by 45.5% during the 4th quarter. Bessemer Group Inc. now owns 339 shares of the construction company's stock worth $57,000 after purchasing an additional 106 shares in the last quarter. Covestor Ltd raised its stake in shares of Owens Corning by 15.7% during the 4th 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Owens Corning by 13.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock worth $125,000 after purchasing an additional 85 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its stake in Owens Corning by 101.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 763 shares of the construction company's stock valued at $129,000 after acquiring an additional 384 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of NYSE OC traded down $2.63 during mid-day trading on Friday, reaching $147.60. The company had a trading volume of 668,923 shares, compared to its average volume of 866,092. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 1.44. Owens Corning Inc has a one year low of $123.41 and a one year high of $214.53. The firm 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. The business's 50-day simple moving average is $138.56 and its 200 day simple moving average is $151.72.

Owens Corning (NYSE:OC - Get Free Report) last issued 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. Owens Corning had a return on equity of 25.03% and a net margin of 2.28%. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the business earned $3.40 earnings per share. Owens Corning's revenue was up 25.4% on a year-over-year basis. On average, research analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning declared that its Board of Directors has approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign 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 given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, July 21st. Owens Corning's payout ratio is currently 97.18%.

Analysts Set New Price Targets

OC has been the topic of a number of research analyst reports. Loop Capital dropped their price target on Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company increased their price target on Owens Corning from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Tuesday. Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Evercore ISI set a $165.00 price target on Owens Corning in a research note on Thursday, May 15th. Finally, Barclays lowered their price objective on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's 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 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.