Robeco Institutional Asset Management B.V. Sells 29,746 Shares of Owens Corning (NYSE:OC)

Robeco Institutional Asset Management B.V. lessened its position in Owens Corning (NYSE:OC - Free Report) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 337,988 shares of the construction company's stock after selling 29,746 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.39% of Owens Corning worth $57,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of OC. State Street Corp increased its position in Owens Corning by 4.7% during the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock worth $738,104,000 after purchasing an additional 187,001 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock valued at $327,286,000 after buying an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock worth $145,455,000 after acquiring an additional 197,667 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after acquiring an additional 424,786 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Owens Corning Stock Up 1.8 %

OC stock traded up $3.41 during midday trading on Thursday, reaching $190.64. The company had a trading volume of 522,620 shares, compared to its average volume of 675,138. The company has a 50 day moving average of $184.95 and a two-hundred day moving average of $178.48. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a market capitalization of $16.35 billion, a P/E ratio of 16.22, a PEG ratio of 2.05 and a beta of 1.46.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.15 earnings per share. On average, equities research analysts expect that Owens Corning will post 15.47 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's dividend payout ratio is currently 23.49%.

Analyst Ratings Changes

A number of brokerages have weighed in on OC. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Barclays raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.75.

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.