Owens Corning (NYSE:OC) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its stake in Owens Corning (NYSE:OC) by 8.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 337,988 shares of the construction company’s stock after selling 29,746 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Owens Corning were worth $57,566,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OC. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after acquiring an additional 58 shares in the last quarter. PFG Investments LLC raised its stake in shares of Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the period. Tobam lifted its position in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust boosted its stake in shares of Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares during the period. Finally, KMG Fiduciary Partners LLC grew its holdings in Owens Corning by 1.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after purchasing an additional 80 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on OC. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Royal Bank of Canada raised their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Price Performance

OC opened at $187.22 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $185.09 and its 200 day moving average price is $178.40. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. The business 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 business’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $4.15 EPS. As a group, sell-side analysts expect that Owens Corning will post 15.47 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.47%. 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%.

Insider Buying and Selling

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

Owens Corning 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.