Dimensional Fund Advisors LP Cuts Position in Owens Corning (NYSE:OC)

Dimensional Fund Advisors LP decreased its stake in Owens Corning (NYSE:OC - Free Report) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,716,892 shares of the construction company's stock after selling 175,486 shares during the period. Dimensional Fund Advisors LP owned about 2.00% of Owens Corning worth $292,417,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in Owens Corning by 20.7% in the fourth quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock valued at $126,849,000 after acquiring an additional 127,785 shares during the last quarter. Alpha DNA Investment Management LLC increased its position in shares of Owens Corning by 7.3% during the 4th quarter. Alpha DNA Investment Management LLC now owns 4,580 shares of the construction company's stock valued at $780,000 after purchasing an additional 310 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Owens Corning by 5.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 158,054 shares of the construction company's stock valued at $26,931,000 after buying an additional 7,854 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Owens Corning by 989.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 42,500 shares of the construction company's stock worth $7,239,000 after buying an additional 38,600 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Owens Corning by 143.0% in the fourth quarter. Marshall Wace LLP now owns 292,156 shares of the construction company's stock worth $49,760,000 after buying an additional 171,930 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OC. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a report on Monday, April 14th. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price on the stock. Citigroup dropped their target price on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.73.

Owens Corning Stock Performance

Shares of NYSE:OC traded down $0.01 during midday trading on Friday, hitting $143.95. The company had a trading volume of 871,331 shares, compared to its average volume of 807,653. The company has a fifty day moving average of $144.56 and a two-hundred day moving average of $170.97. The company has a market cap of $12.31 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.21 earnings per share. On average, equities research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

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.