Owens Corning (NYSE:OC) Shares Sold by Robeco Schweiz AG

Robeco Schweiz AG cut its holdings in Owens Corning (NYSE:OC) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 203,582 shares of the construction company’s stock after selling 45,988 shares during the period. Robeco Schweiz AG’s holdings in Owens Corning were worth $35,366,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at $296,000. Principal Securities Inc. purchased a new stake in shares of Owens Corning during the 4th quarter valued at $211,000. Checchi Capital Advisers LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at $203,000. Avantax Advisory Services Inc. grew its stake in shares of Owens Corning by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after buying an additional 69 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Owens Corning during the 4th quarter valued at $490,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OC shares. Loop Capital upped their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a research report on Monday, June 17th. UBS Group upped their price target on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their price target for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, Barclays decreased their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Insider Activity

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

NYSE:OC opened at $161.75 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a 50-day moving average of $167.41 and a two-hundred day moving average of $168.50. The stock has a market cap of $14.06 billion, a P/E ratio of 13.10, a PEG ratio of 3.18 and a beta of 1.41. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.22 EPS. On average, research analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.48%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.