Toronto Dominion Bank Purchases 679 Shares of Owens Corning (NYSE:OC)

Toronto Dominion Bank increased its position in Owens Corning (NYSE:OC) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,702 shares of the construction company’s stock after purchasing an additional 679 shares during the quarter. Toronto Dominion Bank’s holdings in Owens Corning were worth $1,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning during the fourth quarter valued at $28,000. Venturi Wealth Management LLC lifted its holdings 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 valued at $30,000 after acquiring an additional 63 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Owens Corning during the fourth quarter valued at $34,000. Finally, IFP Advisors Inc lifted its holdings 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 valued at $40,000 after acquiring an additional 62 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on OC shares. Wells Fargo & Company lifted their price objective on Owens Corning from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group lowered their target price on Owens Corning from $235.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price for the company. Finally, Barclays lowered their target price on Owens Corning from $179.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.80.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $133.92 on Friday. The stock has a market capitalization of $11.39 billion, a P/E ratio of 11.40, a P/E/G 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 current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $140.61 and a two-hundred day moving average price of $165.18.

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 firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.40 EPS. Equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 14th that permits the company to buyback 12,000,000 shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management 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.