Boston Partners cut its stake in Owens Corning (NYSE:OC) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,889 shares of the construction company’s stock after selling 137,314 shares during the quarter. Boston Partners’ holdings in Owens Corning were worth $29,319,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Engineers Gate Manager LP bought a new position in Owens Corning during the fourth quarter worth about $2,970,000. Worth Venture Partners LLC increased its position in Owens Corning by 20.7% during the fourth quarter. Worth Venture Partners LLC now owns 3,320 shares of the construction company’s stock worth $306,000 after acquiring an additional 570 shares during the period. Quantitative Systematic Strategies LLC bought a new position in Owens Corning during the fourth quarter worth about $221,000. LSV Asset Management increased its position in Owens Corning by 0.5% during the fourth quarter. LSV Asset Management now owns 1,970,691 shares of the construction company’s stock worth $181,185,000 after acquiring an additional 9,884 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Owens Corning by 439.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,127 shares of the construction company’s stock worth $11,136,000 after acquiring an additional 98,655 shares during the period. 94.39% of the stock is currently owned by institutional investors.
In other news, Chairman Michael H. Thaman sold 101,600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total value of $8,669,528.00. Following the sale, the chairman now directly owns 840,370 shares in the company, valued at approximately $71,708,772.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director W Howard Morris sold 2,026 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.95, for a total transaction of $166,030.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,933 shares of company stock worth $11,196,722. 1.80% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. Owens Corning’s payout ratio is currently 25.07%.
OC has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 price target on shares of Owens Corning in a research report on Thursday, October 26th. Argus initiated coverage on shares of Owens Corning in a research report on Wednesday, December 6th. They set a “buy” rating and a $109.00 price target on the stock. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Wednesday, December 27th. Finally, Seaport Global Securities increased their price objective on shares of Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Owens Corning currently has a consensus rating of “Buy” and a consensus price target of $85.45.
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Owens Corning Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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