Quadcap Wealth Management LLC Has $479,000 Stake in Owens Corning (NYSE:OC)

Quadcap Wealth Management LLC trimmed its position in shares of Owens Corning (NYSE:OC - Free Report) by 51.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,811 shares of the construction company's stock after selling 2,971 shares during the period. Quadcap Wealth Management LLC's holdings in Owens Corning were worth $479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. Quantinno Capital Management LP grew its position in Owens Corning by 28.4% during the fourth quarter. Quantinno Capital Management LP now owns 56,885 shares of the construction company's stock valued at $9,689,000 after acquiring an additional 12,571 shares during the period. Nomura Holdings Inc. bought a new stake in Owens Corning during the 4th quarter valued at $1,939,000. NorthRock Partners LLC boosted its holdings in shares of Owens Corning by 152.7% in the fourth quarter. NorthRock Partners LLC now owns 3,601 shares of the construction company's stock valued at $613,000 after acquiring an additional 2,176 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 acquiring an additional 85 shares in the last quarter. Finally, J. Goldman & Co LP bought a new stake in Owens Corning during the fourth quarter worth approximately $15,548,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

OC traded down $2.69 during trading on Monday, hitting $142.37. The stock had a trading volume of 755,350 shares, compared to its average volume of 830,460. The firm has a market cap of $12.11 billion, a PE ratio of 12.12, a P/E/G ratio of 1.88 and a beta of 1.44. 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 company has a 50 day simple moving average of $141.15 and a 200-day simple moving average of $166.47.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.40 EPS. Analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning announced that its board has initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OC shares. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Royal Bank of Canada cut their target price 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. Barclays cut their target price on shares of Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company increased their target price on shares of Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $186.64.

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.