Dimensional Fund Advisors LP Has $299.17 Million Holdings in Owens Corning Inc $OC

Dimensional Fund Advisors LP raised its position in shares of Owens Corning Inc (NYSE:OCFree Report) by 7.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,764,616 shares of the construction company’s stock after buying an additional 188,211 shares during the period. Dimensional Fund Advisors LP’s holdings in Owens Corning were worth $299,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Owens Corning during the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Owens Corning in the 3rd quarter worth approximately $42,000. Harbour Investments Inc. boosted its stake in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Owens Corning during the 4th quarter worth approximately $37,000. Finally, Global Retirement Partners LLC grew its position in Owens Corning by 1,173.3% during the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after purchasing an additional 352 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 0.1%

Shares of Owens Corning stock opened at $139.99 on Thursday. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of -21.18, a P/E/G ratio of 2.72 and a beta of 1.30. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The stock has a 50-day simple moving average of $130.33 and a 200-day simple moving average of $123.08.

Owens Corning (NYSE:OCGet Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 earnings per share. On average, equities research analysts expect that Owens Corning Inc will post 9.55 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. Owens Corning’s dividend payout ratio (DPR) is currently -47.81%.

Insiders Place Their Bets

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on OC. The Goldman Sachs Group increased their target price on Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Bank of America lowered their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Wells Fargo & Company upped their target price on Owens Corning from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Finally, Barclays increased their price target on shares of Owens Corning from $144.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.50.

View Our Latest Stock Report on OC

About Owens Corning

(Free Report)

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.

See Also

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning Inc (NYSE:OCFree Report).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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