Bank of New Hampshire Raises Position in Owens Corning (NYSE:OC)

Bank of New Hampshire increased its holdings in Owens Corning (NYSE:OC) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,318 shares of the construction company’s stock after purchasing an additional 432 shares during the quarter. Bank of New Hampshire’s holdings in Owens Corning were worth $1,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in OC. Stratos Wealth Partners LTD. increased its position in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC boosted its stake in Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock worth $305,000 after acquiring an additional 57 shares in the last quarter. Retirement Guys Formula LLC boosted its stake in Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after acquiring an additional 60 shares in the last quarter. IFP Advisors Inc boosted its stake in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after acquiring an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock worth $439,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OC shares. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Evercore ISI set a $165.00 price objective on shares of Owens Corning in a research note on Thursday, May 15th. Wall Street Zen lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, Royal Bank of Canada lowered their price target on Owens Corning from $199.00 to $184.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.80.

Owens Corning Trading Down 0.1%

Shares of NYSE OC opened at $135.32 on Friday. The firm’s 50 day moving average price is $138.32 and its 200-day moving average price is $161.01. The company has a market cap of $11.51 billion, a PE ratio of 11.52, a P/E/G ratio of 1.88 and a beta of 1.34. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.40 earnings per share. On average, equities research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that authorizes the company to buyback 12,000,000 outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

About Owens Corning

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.