California State Teachers Retirement System lowered its position in Owens Corning Inc (NYSE:OC - Free Report) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,927 shares of the construction company's stock after selling 2,197 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Owens Corning worth $14,771,676 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Owens Corning during the 2nd quarter worth $1,401,161,000. Dimensional Fund Advisors LP lifted its holdings in shares of Owens Corning by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company's stock valued at $299,167,000 after purchasing an additional 188,211 shares during the last quarter. First Trust Advisors LP lifted its stake in Owens Corning by 22.7% in the first quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company's stock valued at $235,835,000 after acquiring an additional 403,803 shares during the last quarter. LSV Asset Management increased its stake in Owens Corning by 1.0% during the fourth quarter. LSV Asset Management now owns 1,463,671 shares of the construction company's stock valued at $163,799,000 after acquiring an additional 14,109 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Owens Corning by 460.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company's stock valued at $146,940,000 after buying an additional 1,078,877 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.
Owens Corning Stock Performance
OC traded up $0.03 on Tuesday, hitting $128.97. The company had a trading volume of 574,969 shares, compared to its average volume of 1,239,242. 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's fifty day moving average price is $143.11 and its 200 day moving average price is $127.77. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.91. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of -16.00, a price-to-earnings-growth ratio of 1.97 and a beta of 1.32.
Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the previous year, the firm posted $4.21 EPS. The firm's revenue was up .3% compared to the same quarter last year. Equities analysts predict that Owens Corning Inc will post 9.94 earnings per share for the current fiscal year.
Owens Corning Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were issued a dividend of $0.79 per share. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. Owens Corning's dividend payout ratio (DPR) is presently -39.21%.
Insider Activity at Owens Corning
In other 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 transaction of $129,663.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, 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 company insiders.
Analyst Ratings Changes
A number of research firms have recently weighed in on OC. Citigroup lifted their price target on shares of Owens Corning from $149.00 to $177.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Royal Bank Of Canada increased their price objective on Owens Corning from $148.00 to $172.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Wednesday, July 15th. Wells Fargo & Company dropped their price objective on Owens Corning from $172.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Evercore restated an "outperform" rating and issued a $193.00 price objective on shares of Owens Corning in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $164.15.
View Our Latest Report on Owens Corning
About Owens Corning
(
Free Report)
Owens Corning NYSE: OC is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing materials and glass-fiber composites designed to improve energy efficiency, durability and structural performance.
The company's insulation products include fiberglass, mineral wool and foam insulation, as well as related air-sealing and weatherization products. Its roofing business provides asphalt shingles, roofing components and other solutions for residential and commercial applications.
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