Dimensional Fund Advisors LP Decreases Stake in Owens Corning (NYSE:OC)

Dimensional Fund Advisors LP reduced its stake in shares of Owens Corning (NYSE:OC) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,998,133 shares of the construction company’s stock after selling 31,619 shares during the period. Dimensional Fund Advisors LP owned approximately 2.31% of Owens Corning worth $347,107,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. boosted its position in shares of Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Owens Corning in the 1st quarter worth about $26,000. Riverview Trust Co purchased a new stake in shares of Owens Corning in the 1st quarter worth about $28,000. Finally, ORG Partners LLC purchased a new stake in shares of Owens Corning in the 1st quarter worth about $31,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on OC. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Barclays decreased their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Evercore ISI reduced their target price on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 1.3 %

NYSE OC opened at $167.77 on Tuesday. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The company has a 50-day moving average of $167.42 and a 200-day moving average of $169.02. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The company has a market cap of $14.54 billion, a P/E ratio of 13.58, a P/E/G ratio of 3.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company posted $4.22 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

About Owens Corning

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.