Quantinno Capital Management LP Raises Stock Holdings in Owens Corning (NYSE:OC)

Quantinno Capital Management LP lifted its holdings in Owens Corning (NYSE:OC - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,885 shares of the construction company's stock after acquiring an additional 12,571 shares during the period. Quantinno Capital Management LP owned 0.07% of Owens Corning worth $9,689,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Nomura Holdings Inc. purchased a new position in Owens Corning during the fourth quarter valued at approximately $1,939,000. NorthRock Partners LLC lifted its position in Owens Corning by 152.7% during the fourth quarter. NorthRock Partners LLC now owns 3,601 shares of the construction company's stock valued at $613,000 after purchasing an additional 2,176 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Owens Corning by 13.1% during 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. J. Goldman & Co LP acquired a new position in shares of Owens Corning in the fourth quarter worth about $15,548,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Owens Corning by 20.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,859 shares of the construction company's stock worth $828,000 after acquiring an additional 810 shares during the period. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Benchmark restated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, Evercore ISI set a $165.00 price objective on shares of Owens Corning in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.64.

Owens Corning Price Performance

OC traded down $3.36 during midday trading on Wednesday, hitting $137.80. The stock had a trading volume of 337,609 shares, compared to its average volume of 829,526. The company has a market cap of $11.72 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The business has a fifty day moving average of $141.21 and a 200 day moving average of $166.03.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $3.40 EPS. Owens Corning's revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that authorizes the company to buyback 12,000,000 shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors 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.