Systematic Financial Management LP Purchases 6,674 Shares of Owens Corning (NYSE:OC)

Systematic Financial Management LP grew its position in Owens Corning (NYSE:OC - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,895 shares of the construction company's stock after purchasing an additional 6,674 shares during the period. Owens Corning comprises about 0.9% of Systematic Financial Management LP's portfolio, making the stock its 29th largest position. Systematic Financial Management LP owned about 0.25% of Owens Corning worth $37,112,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Scientech Research LLC bought a new stake in shares of Owens Corning during the 4th quarter worth $1,173,000. Silvercrest Asset Management Group LLC bought a new stake in Owens Corning in the fourth quarter worth about $12,314,000. Royal Bank of Canada boosted its stake in Owens Corning by 66.4% in the fourth quarter. Royal Bank of Canada now owns 214,755 shares of the construction company's stock valued at $36,577,000 after acquiring an additional 85,725 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of Owens Corning by 23.9% during the 4th quarter. Rafferty Asset Management LLC now owns 26,872 shares of the construction company's stock worth $4,577,000 after purchasing an additional 5,182 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $51,400,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

Shares of OC stock traded down $1.14 during trading on Tuesday, hitting $141.21. The company had a trading volume of 564,401 shares, compared to its average volume of 831,355. The stock's 50-day moving average is $141.21 and its two-hundred day moving average is $166.03. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.40 EPS. As a group, analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning announced that its board has authorized a share buyback plan on Wednesday, May 14th that permits the company to buyback 12,000,000 outstanding shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OC shares. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. StockNews.com downgraded 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 report on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price on the stock. Royal Bank of Canada cut their price target on Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their price objective on Owens Corning from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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.