Owens Corning (NYSE:OC) Stake Raised by Donald L. Hagan LLC

Donald L. Hagan LLC increased its position in shares of Owens Corning (NYSE:OC) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,750 shares of the construction company’s stock after purchasing an additional 242 shares during the period. Owens Corning accounts for about 0.9% of Donald L. Hagan LLC’s investment portfolio, making the stock its 19th largest holding. Donald L. Hagan LLC’s holdings in Owens Corning were worth $1,678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the fourth quarter worth approximately $28,000. Venturi Wealth Management LLC grew its position in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Owens Corning by 193.7% in the fourth 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 during the last quarter. Whipplewood Advisors LLC acquired a new position in Owens Corning in the fourth quarter worth approximately $34,000. Finally, IFP Advisors Inc grew its position in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after buying an additional 62 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on OC. Wolfe Research upgraded shares of Owens Corning from a “peer perform” rating to an “outperform” rating in a research report on Friday, May 9th. Barclays lowered their price objective on shares of Owens Corning from $179.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada lowered their price objective on shares of Owens Corning from $199.00 to $184.00 and set an “outperform” rating on the stock in a research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.80.

Owens Corning Trading Up 0.8%

Shares of NYSE:OC opened at $138.81 on Friday. The stock has a market capitalization of $11.81 billion, a PE ratio of 11.81, a P/E/G ratio of 1.88 and a beta of 1.34. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The firm has a fifty day moving average price of $138.42 and a 200 day moving average price of $159.50. 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 (NYSE:OC) last released 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. The firm had revenue of $2.53 billion during 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 business’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 EPS. Analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning declared that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that authorizes the company to buyback 12,000,000 shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Owens Corning 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.