11,165 Shares in Owens Corning Inc (NYSE:OC) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in Owens Corning Inc (NYSE:OC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,165 shares of the construction company's stock, valued at approximately $1,595,000.

Other institutional investors also recently bought and sold shares of the company. Allstate Corp bought a new stake in shares of Owens Corning in the fourth quarter worth about $425,000. Integrated Quantitative Investments LLC purchased a new stake in Owens Corning during the fourth quarter valued at $349,000. OneDigital Investment Advisors LLC grew its stake in shares of Owens Corning by 33.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company's stock worth $234,000 after buying an additional 409 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Owens Corning by 11.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company's stock worth $4,416,000 after buying an additional 3,298 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Owens Corning by 32.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 72,848 shares of the construction company's stock valued at $10,404,000 after buying an additional 17,660 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. UBS Group cut their price target on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barclays cut their price objective on shares of Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Loop Capital reduced their target price on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Royal Bank Of Canada lowered their price objective on 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Owens Corning has an average rating of "Moderate Buy" and a consensus target price of $184.30.

Owens Corning Trading Up 1.0%

Shares of OC traded up $1.47 during midday trading on Friday, hitting $145.91. 458,083 shares of the stock were exchanged, compared to its average volume of 706,147. The stock has a fifty day simple moving average of $138.96 and a 200 day simple moving average of $149.78. 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 52-week low of $123.40 and a 52-week high of $214.53. The firm has a market cap of $12.41 billion, a P/E ratio of 51.38, a P/E/G ratio of 3.85 and a beta of 1.33.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company posted $3.40 earnings per share. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. On average, research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's payout ratio is currently 97.18%.

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

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.