Dimensional Fund Advisors LP Sells 129,467 Shares of Owens Corning Inc $OC

Dimensional Fund Advisors LP decreased its position in Owens Corning Inc (NYSE:OC - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,587,425 shares of the construction company's stock after selling 129,467 shares during the period. Dimensional Fund Advisors LP owned about 1.87% of Owens Corning worth $226,701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OC. Wayfinding Financial LLC bought a new position in shares of Owens Corning during the 1st quarter worth $60,000. Archer Investment Corp boosted its position in Owens Corning by 17.9% during the first quarter. Archer Investment Corp now owns 660 shares of the construction company's stock worth $94,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Owens Corning in the first quarter worth about $100,000. Palouse Capital Management Inc. raised its position in shares of Owens Corning by 50.0% in the first quarter. Palouse Capital Management Inc. now owns 786 shares of the construction company's stock valued at $112,000 after purchasing an additional 262 shares during the period. Finally, Allworth Financial LP raised its position in shares of Owens Corning by 86.6% in the first quarter. Allworth Financial LP now owns 819 shares of the construction company's stock valued at $118,000 after purchasing an additional 380 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Evercore ISI lifted their price target on Owens Corning from $165.00 to $169.00 and gave the company an "in-line" rating in a research report on Friday, August 8th. UBS Group dropped their price objective on Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada cut their target price on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, Wolfe Research upgraded Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $184.60.

Owens Corning Stock Performance

Owens Corning stock opened at $150.20 on Monday. Owens Corning Inc has a fifty-two week low of $123.40 and a fifty-two week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The stock has a market cap of $12.56 billion, a P/E ratio of 39.01, a price-to-earnings-growth ratio of 10.74 and a beta of 1.32. The firm's fifty day moving average price is $141.63 and its 200-day moving average price is $145.61.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating analysts' consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%. The business had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter in the prior year, the firm earned $4.64 earnings per share. The firm's revenue was up 10.0% on a year-over-year basis. On average, equities research analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Monday, July 21st were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $2.76 annualized dividend and a yield of 1.8%. Owens Corning's dividend payout ratio is currently 71.69%.

Owens Corning announced that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that allows the company to repurchase 12,000,000 shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.

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