OMERS ADMINISTRATION Corp Has $1.85 Million Holdings in Owens Corning (NYSE:OC)

OMERS ADMINISTRATION Corp lessened its position in Owens Corning (NYSE:OC - Free Report) by 28.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,885 shares of the construction company's stock after selling 4,295 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Owens Corning were worth $1,854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning in the fourth quarter worth $28,000. Venturi Wealth Management LLC lifted its stake in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in Owens Corning during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its stake in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Analyst Ratings Changes

OC has been the topic of a number of research analyst reports. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. Barclays reduced their price objective on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Royal Bank of Canada lowered their target price on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and a consensus target price of $186.64.

Owens Corning Stock Performance

Owens Corning stock traded down $4.20 during trading hours on Wednesday, reaching $136.97. 228,162 shares of the company were exchanged, compared to its average volume of 829,051. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average of $141.21 and a 200 day moving average of $166.03. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business 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 firm earned $3.40 EPS. Owens Corning's quarterly revenue was up 25.4% compared to the same quarter last year. As a group, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

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