Dimensional Fund Advisors LP Increases Stake in Owens Corning (OC)

Dimensional Fund Advisors LP grew its holdings in Owens Corning (NYSE:OC) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 3,071,643 shares of the construction company’s stock after acquiring an additional 80,675 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Owens Corning were worth $166,706,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in OC. Quantbot Technologies LP grew its position in Owens Corning by 5.3% during the third quarter. Quantbot Technologies LP now owns 47,256 shares of the construction company’s stock worth $2,564,000 after buying an additional 2,395 shares during the period. Pictet Asset Management Ltd. grew its position in Owens Corning by 8.3% during the third quarter. Pictet Asset Management Ltd. now owns 69,300 shares of the construction company’s stock worth $3,761,000 after buying an additional 5,300 shares during the period. Carillon Tower Advisers Inc. grew its position in Owens Corning by 0.6% during the third quarter. Carillon Tower Advisers Inc. now owns 212,075 shares of the construction company’s stock worth $11,509,000 after buying an additional 1,300 shares during the period. Schroder Investment Management Group grew its position in Owens Corning by 3.3% during the third quarter. Schroder Investment Management Group now owns 1,385,483 shares of the construction company’s stock worth $75,190,000 after buying an additional 44,742 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Owens Corning by 2.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 248,094 shares of the construction company’s stock worth $14,081,000 after buying an additional 5,682 shares during the period. 90.42% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on OC shares. Goldman Sachs Group started coverage on shares of Owens Corning in a research report on Tuesday, October 2nd. They set a “buy” rating and a $75.00 target price on the stock. Longbow Research restated a “buy” rating on shares of Owens Corning in a research report on Monday, September 24th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $62.00 to $58.00 in a research report on Thursday, October 25th. TheStreet lowered shares of Owens Corning from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Finally, Bank of America lowered shares of Owens Corning from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.87.

OC stock opened at $52.15 on Friday. The company has a market capitalization of $5.64 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.81 and a beta of 1.14. Owens Corning has a 12 month low of $42.88 and a 12 month high of $96.52. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 0.87.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.11). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.89 billion. Owens Corning had a net margin of 5.33% and a return on equity of 12.37%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. Equities analysts anticipate that Owens Corning will post 4.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Tuesday, October 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.61%. Owens Corning’s dividend payout ratio is presently 19.09%.

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Owens Corning Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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

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