Owens Corning (NYSE:OC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in Owens Corning (NYSE:OC) by 1.6% in the 2nd quarter, Holdings Channel reports. The fund owned 1,998,133 shares of the construction company’s stock after selling 31,619 shares during the period. Dimensional Fund Advisors LP’s holdings in Owens Corning were worth $347,107,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of OC. MV Capital Management Inc. grew its position in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning in the first quarter valued at approximately $26,000. ST Germain D J Co. Inc. grew its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Riverview Trust Co acquired a new stake in Owens Corning in the first quarter valued at approximately $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on OC shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. UBS Group increased their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Loop Capital increased their target price on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $184.23.

Owens Corning Stock Performance

Shares of OC opened at $167.77 on Tuesday. The business’s fifty day moving average price is $167.42 and its 200 day moving average price is $169.02. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13. The stock has a market capitalization of $14.54 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.92 billion. During the same period last year, the company earned $4.22 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 15th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s dividend payout ratio is presently 19.43%.

Insiders Place Their Bets

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

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.