Robeco Schweiz AG Lowers Stock Holdings in Owens Corning Inc (NYSE:OC)

Robeco Schweiz AG decreased its holdings in shares of Owens Corning Inc (NYSE:OC - Free Report) by 51.6% during the first quarter, according to its most recent disclosure with the 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 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OC. CoreCap Advisors LLC lifted its holdings in shares of Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock worth $305,000 after purchasing an additional 57 shares during the period. Parallel Advisors LLC lifted its holdings in Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after acquiring an additional 62 shares during the period. Covestor Ltd lifted its holdings in Owens Corning by 15.7% in the fourth quarter. Covestor Ltd now owns 464 shares of the construction company's stock valued at $79,000 after acquiring an additional 63 shares during the period. NorthCrest Asset Manangement LLC raised its stake in shares of Owens Corning by 0.6% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company's stock worth $1,863,000 after buying an additional 74 shares during the period. Finally, Menard Financial Group LLC raised its stake in shares of Owens Corning by 3.6% during the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company's stock worth $387,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OC. Royal Bank Of Canada reduced their target price on Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company upped their target price on Owens Corning from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Tuesday. Barclays reduced their target price 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. Wolfe Research raised Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Finally, Loop Capital reduced their price objective on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of "Moderate Buy" and a consensus target price of $184.30.

Owens Corning Trading Down 1.8%

NYSE:OC traded down $2.63 during trading hours on Friday, hitting $147.60. The company had a trading volume of 668,923 shares, compared to its average volume of 864,975. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average of $138.56 and a 200 day moving average of $151.86. The company has a market cap of $12.55 billion, a P/E ratio of 51.97, a P/E/G ratio of 3.97 and a beta of 1.33. Owens Corning Inc has a 1 year low of $123.41 and a 1 year high of $214.53.

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 (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. Owens Corning had a return on equity of 25.03% and a net margin of 2.28%. The firm's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.40 EPS. Sell-side analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's dividend payout ratio is presently 97.18%.

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