Robeco Institutional Asset Management B.V. Raises Stock Position in Owens Corning (NYSE:OC)

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 6.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 367,734 shares of the construction company's stock after purchasing an additional 23,316 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.42% of Owens Corning worth $64,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its holdings in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock valued at $128,772,000 after buying an additional 464,981 shares during the period. Pacer Advisors Inc. boosted its position in Owens Corning by 38.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock worth $276,655,000 after purchasing an additional 446,073 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Owens Corning by 2,813.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company's stock worth $65,815,000 after purchasing an additional 365,853 shares during the period. Swedbank AB acquired a new stake in shares of Owens Corning during the 1st quarter worth approximately $60,424,000. Finally, Kimelman & Baird LLC acquired a new stake in Owens Corning during the second quarter valued at $35,970,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

OC stock traded up $3.06 during mid-day trading on Tuesday, reaching $182.46. The company's stock had a trading volume of 439,898 shares, compared to its average volume of 676,874. The stock has a market cap of $15.86 billion, a PE ratio of 15.37, a P/E/G ratio of 2.21 and a beta of 1.41. The company's 50 day moving average is $174.29 and its two-hundred day moving average is $173.12. Owens Corning has a fifty-two week low of $120.17 and a fifty-two week high of $191.44. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts' consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the business posted $4.22 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.32%. Owens Corning's payout ratio is 20.32%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Owens Corning from $175.00 to $189.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 16th. StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a report on Friday. UBS Group upped their target price on Owens Corning from $192.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Citigroup raised shares of Owens Corning from a "neutral" rating to a "buy" rating and lifted their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Finally, Barclays reduced their price objective 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. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $187.77.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now owns 60,130 shares of the company's stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares of the company's stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

About Owens Corning

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.