Scientech Research LLC Invests $1.17 Million in Owens Corning (NYSE:OC)

Scientech Research LLC acquired a new position in Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,888 shares of the construction company's stock, valued at approximately $1,173,000.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC raised its position in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its position 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 worth $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning during the 4th quarter valued at approximately $34,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

NYSE:OC traded down $0.24 during trading hours on Thursday, reaching $134.74. 338,907 shares of the company were exchanged, compared to its average volume of 831,166. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The firm has a market cap of $11.46 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The stock's 50-day moving average is $141.03 and its 200-day moving average is $165.82.

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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target on the stock. Loop Capital reduced their price objective on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Wall Street Zen lowered Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.