Robeco Institutional Asset Management B.V. Sells 26,326 Shares of Owens Corning Inc $OC

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Owens Corning Inc (NYSE:OC) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,142 shares of the construction company’s stock after selling 26,326 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Owens Corning were worth $23,927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. Ariel Investments LLC increased its stake in Owens Corning by 24.8% in the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after purchasing an additional 27,871 shares during the period. JPMorgan Chase & Co. lifted its holdings in Owens Corning by 6.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock valued at $62,840,000 after buying an additional 28,814 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Owens Corning by 6.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock valued at $5,779,000 after buying an additional 2,421 shares during the period. Nordea Investment Management AB boosted its position in Owens Corning by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after buying an additional 15,927 shares during the period. Finally, Aviva PLC grew its stake in Owens Corning by 7.2% in the 2nd quarter. Aviva PLC now owns 60,634 shares of the construction company’s stock worth $8,338,000 after acquiring an additional 4,091 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Up 4.9%

Shares of NYSE OC opened at $117.18 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market capitalization of $9.63 billion, a P/E ratio of -20.49, a price-to-earnings-growth ratio of 10.66 and a beta of 1.35. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $192.96. The business has a fifty day moving average price of $111.19 and a 200 day moving average price of $131.46.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.03. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.38 earnings per share. Equities research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Monday, January 5th will be paid a dividend of $0.79 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, January 5th. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. Owens Corning’s dividend payout ratio (DPR) is presently -55.24%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OC. Royal Bank Of Canada decreased their price target on shares of Owens Corning from $174.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company decreased their target price on Owens Corning from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, December 15th. Citigroup dropped their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial cut their price target on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $148.00.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.