Rhumbline Advisers lowered its position in Owens Corning Inc (NYSE:OC) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,048 shares of the construction company’s stock after selling 11,685 shares during the period. Rhumbline Advisers owned 0.11% of Owens Corning worth $7,833,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Owens Corning by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,371,554 shares of the construction company’s stock worth $636,503,000 after buying an additional 117,177 shares in the last quarter. BlackRock Inc. increased its position in Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after buying an additional 6,338,177 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Owens Corning by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,638,376 shares of the construction company’s stock worth $223,280,000 after buying an additional 280,680 shares in the last quarter. Victory Capital Management Inc. increased its position in Owens Corning by 7.9% in the first quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock worth $202,370,000 after buying an additional 240,258 shares in the last quarter. Finally, State Street Corp increased its position in Owens Corning by 0.4% in the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after buying an additional 8,490 shares in the last quarter.

Shares of Owens Corning Inc (NYSE:OC) opened at 70.09 on Friday. Owens Corning Inc has a 52-week low of $46.45 and a 52-week high of $70.45. The firm has a market capitalization of $7.79 billion, a PE ratio of 20.14 and a beta of 1.11. The company has a 50-day moving average price of $66.95 and a 200 day moving average price of $63.01.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Owens Corning Inc will post $4.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. Owens Corning’s dividend payout ratio (DPR) is presently 23.05%.

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OC has been the topic of a number of research analyst reports. BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Owens Corning in a report on Sunday, July 9th. Instinet reaffirmed a “buy” rating and set a $74.00 target price on shares of Owens Corning in a report on Thursday, June 1st. KeyCorp reaffirmed an “overweight” rating and set a $75.00 target price (up previously from $70.00) on shares of Owens Corning in a report on Monday, June 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 target price on shares of Owens Corning in a report on Monday, June 19th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $70.53.

In other news, insider Brian Chambers sold 16,600 shares of Owens Corning stock in a transaction on Friday, August 4th. The shares were sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the transaction, the insider now owns 39,957 shares in the company, valued at $2,684,311.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Arnaud Genis sold 21,544 shares of Owens Corning stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the transaction, the insider now owns 80,143 shares in the company, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,144 shares of company stock worth $2,654,227. 1.80% of the stock is owned by company insiders.

Owens Corning Company 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.

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

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