Owens Corning Inc (NYSE:OC) Shares Sold by Robeco Schweiz AG

Robeco Schweiz AG reduced its stake in shares of Owens Corning Inc (NYSE:OC - Free Report) by 51.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,382 shares of the construction company's stock after selling 58,000 shares during the quarter. Robeco Schweiz AG owned approximately 0.06% of Owens Corning worth $7,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Owens Corning during the 4th quarter worth about $208,519,000. Price T Rowe Associates Inc. MD raised its stake in shares of Owens Corning by 41.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock worth $242,337,000 after purchasing an additional 414,770 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Owens Corning during the fourth quarter worth about $51,400,000. Raymond James Financial Inc. purchased a new stake in Owens Corning in the fourth quarter valued at approximately $51,220,000. Finally, KBC Group NV increased its holdings in Owens Corning by 75.2% in the 1st quarter. KBC Group NV now owns 634,783 shares of the construction company's stock worth $90,659,000 after buying an additional 272,367 shares during the period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of NYSE:OC traded down $2.98 during trading on Monday, reaching $144.46. The stock had a trading volume of 845,920 shares, compared to its average volume of 947,909. Owens Corning Inc has a 1-year low of $123.40 and a 1-year high of $214.53. The stock has a market cap of $12.29 billion, a PE ratio of 50.87, a PEG ratio of 3.89 and a beta of 1.33. The business has a fifty day moving average price of $138.56 and a 200-day moving average price of $151.58. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.15. Owens Corning had a return on equity of 25.03% and a net margin of 2.28%. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the firm posted $3.40 EPS. The business's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its board has approved a share buyback plan on Wednesday, May 14th that allows the company to repurchase 12,000,000 outstanding shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Monday, July 21st will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning's payout ratio is 97.18%.

Analyst Ratings Changes

Several research firms have commented on OC. Royal Bank Of Canada lowered their price objective on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Evercore ISI set a $165.00 price target on shares of Owens Corning in a report on Thursday, May 15th. Wolfe Research raised shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. UBS Group lowered their target price on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Barclays cut their price target on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $184.30.

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.