Robeco Schweiz AG Reduces Position in Owens Corning Inc (NYSE:OC)

Robeco Schweiz AG decreased its position in 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 period. Robeco Schweiz AG owned approximately 0.06% of Owens Corning worth $7,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Bank Pictet & Cie Europe AG purchased a new stake in shares of Owens Corning in the 4th quarter valued at $28,651,000. Jones Financial Companies Lllp lifted its position in Owens Corning by 82.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,223 shares of the construction company's stock valued at $208,000 after purchasing an additional 551 shares during the period. Assetmark Inc. boosted its holdings in Owens Corning by 195.1% in the fourth quarter. Assetmark Inc. now owns 239 shares of the construction company's stock valued at $41,000 after purchasing an additional 158 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Owens Corning during the 4th quarter worth about $22,831,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Owens Corning by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the construction company's stock valued at $1,054,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Up 2.0%

Shares of OC opened at $150.19 on Friday. Owens Corning Inc has a 52-week low of $123.41 and a 52-week high of $214.53. The stock has a market cap of $12.77 billion, a PE ratio of 52.88, a price-to-earnings-growth ratio of 3.89 and a beta of 1.33. The firm's fifty day moving average is $138.56 and its two-hundred day moving average is $152.02. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.02.

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

Owens Corning Dividend Announcement

The business 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 $0.69 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.84%. Owens Corning's dividend payout ratio (DPR) is presently 97.18%.

Owens Corning declared that its board has authorized a share buyback program on Wednesday, May 14th that authorizes the company to buyback 12,000,000 outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently commented on OC. Loop Capital dropped their target price on Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Evercore ISI set a $165.00 price objective on Owens Corning in a report on Thursday, May 15th. UBS Group reduced their target price on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target for the company. Finally, Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.

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