Precision Wealth Strategies LLC Purchases 113 Shares of Owens Corning (NYSE:OC)

Precision Wealth Strategies LLC raised its position in Owens Corning (NYSE:OC) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,345 shares of the construction company’s stock after purchasing an additional 113 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Owens Corning were worth $335,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC raised its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Owens Corning during the fourth quarter worth about $34,000. IFP Advisors Inc raised its position in shares of 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 during the last quarter. Finally, Assetmark Inc. raised its position in shares of Owens Corning by 195.1% during the fourth quarter. Assetmark Inc. now owns 239 shares of the construction company’s stock worth $41,000 after acquiring an additional 158 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the subject of a number of analyst reports. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research note on Tuesday, April 1st. They set a “buy” rating and a $183.00 target price for the company. Wolfe Research raised Owens Corning from a “peer perform” rating to an “outperform” rating in a research note on Friday, May 9th. Wall Street Zen cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company raised their target price on Owens Corning from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $183.80.

Owens Corning Trading Down 3.2%

Shares of Owens Corning stock opened at $134.35 on Monday. 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 has a 52 week low of $123.41 and a 52 week high of $214.53. The stock has a 50 day moving average price of $138.59 and a two-hundred day moving average price of $158.35. The stock has a market capitalization of $11.43 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.34.

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

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