Dimensional Fund Advisors LP Has $273.10 Million Holdings in Owens Corning Inc $OC

Dimensional Fund Advisors LP lifted its position in Owens Corning Inc (NYSE:OC) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,930,632 shares of the construction company’s stock after buying an additional 110,452 shares during the quarter. Dimensional Fund Advisors LP owned about 2.35% of Owens Corning worth $273,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cresset Asset Management LLC grew its position in shares of Owens Corning by 171.3% in the 3rd quarter. Cresset Asset Management LLC now owns 12,276 shares of the construction company’s stock valued at $1,737,000 after acquiring an additional 7,751 shares during the period. Victory Capital Management Inc. lifted its stake in Owens Corning by 38.1% in the 3rd quarter. Victory Capital Management Inc. now owns 639,617 shares of the construction company’s stock valued at $90,480,000 after purchasing an additional 176,302 shares during the last quarter. Regents Gate Capital LLP lifted its stake in Owens Corning by 88.2% in the 3rd quarter. Regents Gate Capital LLP now owns 68,190 shares of the construction company’s stock valued at $9,646,000 after purchasing an additional 31,965 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Owens Corning by 1.2% during the third quarter. Fisher Asset Management LLC now owns 327,583 shares of the construction company’s stock worth $46,340,000 after purchasing an additional 3,901 shares during the period. Finally, Finemark National Bank & Trust increased its position in Owens Corning by 1.5% during the third quarter. Finemark National Bank & Trust now owns 37,998 shares of the construction company’s stock worth $5,375,000 after buying an additional 547 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 1.6%

Owens Corning stock opened at $109.71 on Friday. The company’s 50-day moving average price is $123.54 and its two-hundred day moving average price is $126.41. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20. The stock has a market cap of $8.82 billion, a P/E ratio of -17.14, a P/E/G ratio of 1.80 and a beta of 1.35. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the firm earned $3.22 EPS. The company’s revenue was down 16.8% on a year-over-year basis. As a group, analysts expect that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 2.9%. Owens Corning’s payout ratio is -49.38%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OC. Wells Fargo & Company upped their price objective on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Evercore decreased their target price on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a report on Thursday, December 4th. JPMorgan Chase & Co. dropped their price target on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Argus raised Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.58.

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.