Owens Corning Inc $OC Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its position in Owens Corning Inc (NYSE:OC) by 66.5% in the third quarter, Holdings Channel reports. The firm owned 42,012 shares of the construction company’s stock after selling 83,385 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Owens Corning were worth $4,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. BlackRock Inc. acquired a new stake in Owens Corning during the second quarter valued at approximately $1,401,161,000. Dimensional Fund Advisors LP lifted its holdings in Owens Corning by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after buying an additional 188,211 shares during the last quarter. First Trust Advisors LP grew its position in shares of Owens Corning by 22.7% in the 1st quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company’s stock worth $235,835,000 after acquiring an additional 403,803 shares in the last quarter. Nykredit A S acquired a new position in shares of Owens Corning in the 2nd quarter worth approximately $166,083,000. Finally, Bank of America Corp DE bought a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $133,685,000. 88.40% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the sale, the insider owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

OC opened at $114.27 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The company’s 50-day moving average price is $127.33 and its 200 day moving average price is $129.40. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of -14.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.32.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. Owens Corning’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.21 earnings per share. As a group, sell-side analysts expect that Owens Corning Inc will post 9.59 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, October 19th. Owens Corning’s dividend payout ratio is presently -39.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lowered their price target on Owens Corning from $177.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, October 6th. The Goldman Sachs Group reduced their price objective on Owens Corning from $169.00 to $128.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Wells Fargo & Company lowered their target price on shares of Owens Corning from $150.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Finally, Vertical Research lowered shares of Owens Corning from a “hold” rating to a “sell” rating and set a $106.00 target price for the company. in a research note on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Hold” and an average price target of $141.57.

About Owens Corning

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.