Principal Financial Group Inc. Has $32.35 Million Stock Holdings in Owens Corning (NYSE:OC)

Principal Financial Group Inc. lowered its position in shares of Owens Corning (NYSE:OC – Get Rating) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,445 shares of the construction company’s stock after selling 14,451 shares during the quarter. Principal Financial Group Inc. owned approximately 0.36% of Owens Corning worth $32,349,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank N A MO acquired a new stake in shares of Owens Corning during the 4th quarter worth about $35,000. Moors & Cabot Inc. acquired a new stake in shares of Owens Corning during the 3rd quarter worth about $50,000. CWM LLC acquired a new stake in Owens Corning in the 4th quarter valued at about $85,000. Eagle Bay Advisors LLC increased its position in Owens Corning by 100.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 1,200 shares of the construction company’s stock valued at $102,000 after acquiring an additional 600 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Owens Corning by 31.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,166 shares of the construction company’s stock valued at $105,000 after acquiring an additional 278 shares in the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.

Owens Corning stock opened at $93.22 on Friday. The company’s 50 day simple moving average is $90.77 and its 200 day simple moving average is $91.15. Owens Corning has a fifty-two week low of $79.35 and a fifty-two week high of $109.24. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 0.61 and a beta of 1.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.72 and a quick ratio of 1.14.

Owens Corning (NYSE:OC – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.42. Owens Corning had a net margin of 12.20% and a return on equity of 24.44%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm earned $1.73 EPS. Owens Corning’s quarterly revenue was up 22.5% compared to the same quarter last year. As a group, analysts predict that Owens Corning will post 11.65 EPS for the current fiscal year.

Several equities research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Owens Corning in a research report on Tuesday, April 5th. They issued a “neutral” rating and a $105.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of Owens Corning from $136.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, February 17th. Royal Bank of Canada raised their price objective on shares of Owens Corning from $97.00 to $105.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 22nd. StockNews.com upgraded shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 2nd. Finally, Evercore ISI raised their target price on shares of Owens Corning from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, February 17th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $108.75.

Owens Corning Company Profile (Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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