OneDigital Investment Advisors LLC Acquires 409 Shares of Owens Corning Inc (NYSE:OC)

OneDigital Investment Advisors LLC boosted its holdings in Owens Corning Inc (NYSE:OC) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,639 shares of the construction company’s stock after purchasing an additional 409 shares during the period. OneDigital Investment Advisors LLC’s holdings in Owens Corning were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Owens Corning by 41.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company’s stock valued at $242,337,000 after acquiring an additional 414,770 shares during the last quarter. Norges Bank acquired a new stake in Owens Corning in the fourth quarter valued at $208,519,000. Northern Trust Corp lifted its stake in Owens Corning by 27.4% in the fourth quarter. Northern Trust Corp now owns 964,861 shares of the construction company’s stock valued at $164,335,000 after acquiring an additional 207,677 shares during the last quarter. First Trust Advisors LP lifted its stake in Owens Corning by 20.7% in the fourth quarter. First Trust Advisors LP now owns 744,771 shares of the construction company’s stock valued at $126,849,000 after acquiring an additional 127,785 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Owens Corning by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 739,669 shares of the construction company’s stock valued at $125,980,000 after acquiring an additional 12,394 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 1.8%

Shares of Owens Corning stock opened at $147.60 on Friday. The firm has a market capitalization of $12.55 billion, a PE ratio of 51.97, a price-to-earnings-growth ratio of 3.89 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $138.56 and its 200 day moving average is $151.72. Owens Corning Inc has a 1 year low of $123.41 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm posted $3.40 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its board has authorized 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 purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, July 21st. Owens Corning’s payout ratio is 97.18%.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of research reports. Evercore ISI set a $165.00 target price on shares of Owens Corning in a research note on Thursday, May 15th. Wolfe Research upgraded shares of Owens Corning from a “peer perform” rating to an “outperform” rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price objective for the company. UBS Group decreased 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. Finally, Loop Capital decreased their target price on shares of Owens Corning from $203.00 to $180.00 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.30.

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.