Robeco Institutional Asset Management B.V. increased its holdings in shares of Owens Corning (NYSE:OC) by 66.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,524 shares of the construction company’s stock after acquiring an additional 83,049 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.19% of Owens Corning worth $16,771,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Cerebellum GP LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $119,000. Strs Ohio acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $129,000. Balter Liquid Alternatives LLC acquired a new position in shares of Owens Corning during the 1st quarter worth approximately $162,000. Focused Wealth Management Inc acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $175,000. Finally, Avestar Capital LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $176,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of OC stock opened at $65.61 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.91. Owens Corning has a twelve month low of $64.94 and a twelve month high of $66.20. The firm has a market cap of $7.32 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 25th. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.16). Owens Corning had a return on equity of 11.95% and a net margin of 4.24%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. Owens Corning’s quarterly revenue was up 14.4% compared to the same quarter last year. research analysts expect that Owens Corning will post 5.54 earnings per share for the current fiscal year.
A number of research analysts have commented on OC shares. MKM Partners upped their price objective on Owens Corning to $86.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Wells Fargo set a $85.00 price objective on Owens Corning and gave the company an “outperform” rating in a report on Thursday, April 26th. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Royal Bank of Canada set a $102.00 price objective on Owens Corning and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, KeyCorp decreased their price objective on Owens Corning from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Owens Corning presently has an average rating of “Hold” and an average target price of $87.28.
In related news, VP Ava Harter sold 1,100 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $84.00, for a total transaction of $92,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arnaud Genis sold 59,541 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $81.32, for a total value of $4,841,874.12. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
About Owens Corning
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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