Owens Corning (NYSE:OC) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Owens Corning (NYSE:OC) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733 shares of the construction company’s stock after acquiring an additional 85 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Owens Corning were worth $125,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC boosted 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 worth $30,000 after buying an additional 63 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning in the 4th quarter worth about $34,000. Finally, IFP Advisors Inc boosted its position in shares of Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on OC. Loop Capital decreased their price objective on shares of Owens Corning from $203.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Wells Fargo & Company upped their target price on shares of Owens Corning from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, UBS Group reduced their target price on shares of Owens Corning from $235.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $183.80.

Owens Corning Trading Down 1.0%

Shares of OC stock opened at $133.90 on Monday. The firm has a market cap of $11.39 billion, a P/E ratio of 11.40, a PEG 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 current ratio of 1.44 and a quick ratio of 0.85. The firm’s 50-day simple moving average is $139.30 and its 200-day simple moving average is $162.85.

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

Owens Corning declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 14th that authorizes the company to buyback 12,000,000 outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.