83,385 Owens Corning Inc $OC Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its Owens Corning stake by 66.5%, selling 83,385 shares in the third quarter and retaining 42,012 shares valued at approximately $4.9 million. Institutional investors collectively own 88.4% of the company.
• Owens Corning reported quarterly EPS of $3.93, exceeding analysts’ $3.09 estimate, while revenue reached $2.76 billion. Shares opened at $114.27, near the lower end of their 52-week range, and analysts’ consensus rating remained Hold with a $141.57 target price.
• The company declared a quarterly dividend of $0.79 per share, equivalent to an annualized $3.16 payout and a 2.8% yield. An insider also sold 900 shares under a pre-arranged Rule 10b5-1 trading plan.

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Owens Corning Inc (NYSE:OC - Free Report) by 66.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,012 shares of the construction company's stock after selling 83,385 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.05% of Owens Corning worth $4,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OC. First Pacific Financial raised its position in Owens Corning by 2.3% in the first quarter. First Pacific Financial now owns 3,749 shares of the construction company's stock valued at $406,000 after purchasing an additional 85 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in shares of Owens Corning by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company's stock worth $343,000 after purchasing an additional 90 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its stake in shares of Owens Corning by 3.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company's stock worth $359,000 after purchasing an additional 97 shares in the last quarter. HM Payson & Co. boosted its position in shares of Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company's stock worth $27,000 after buying an additional 112 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of Owens Corning by 26.9% in the third quarter. V Square Quantitative Management LLC now owns 556 shares of the construction company's stock worth $65,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider directly owned 21,449 shares of the company's stock, valued at $3,090,157.43. This represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

Owens Corning Stock Down 1.9%

Shares of Owens Corning stock opened at $114.27 on Friday. The business has a 50-day moving average of $127.33 and a 200-day moving average of $129.40. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The company has a market capitalization of $9.03 billion, a PE ratio of -14.18, a P/E/G ratio of 2.64 and a beta of 1.32. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.91.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company earned $4.21 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts forecast that Owens Corning Inc will post 9.59 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Monday, October 19th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, October 19th. This represents a $3.16 annualized dividend and a yield of 2.8%. Owens Corning's payout ratio is currently -39.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OC shares. DA Davidson set a $143.00 target price on Owens Corning in a report on Friday, October 9th. Zacks Research cut Owens Corning from a "strong-buy" rating to a "strong sell" rating in a report on Monday, October 12th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Owens Corning in a research report on Monday, September 21st. Truist Financial lowered their price objective on shares of Owens Corning from $140.00 to $115.00 and set a "hold" rating for the company in a research report on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $141.57.

Owens Corning Company Profile

Owens Corning NYSE: OC is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company's primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.

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