Dupont Capital Management Corp Sells 1,456 Shares of Owens Corning (NYSE:OC)

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Dupont Capital Management Corp decreased its holdings in Owens Corning (NYSE:OC) by 10.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,439 shares of the construction company’s stock after selling 1,456 shares during the quarter. Dupont Capital Management Corp’s holdings in Owens Corning were worth $694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone Ridge Asset Management LLC increased its stake in Owens Corning by 35.4% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 7,655 shares of the construction company’s stock valued at $427,000 after buying an additional 2,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Owens Corning in the 2nd quarter valued at about $230,000. Cerebellum GP LLC purchased a new stake in Owens Corning in the 2nd quarter valued at about $119,000. Oregon Public Employees Retirement Fund increased its stake in Owens Corning by 17.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 127,894 shares of the construction company’s stock valued at $7,131,000 after buying an additional 18,565 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Owens Corning by 15.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 266,505 shares of the construction company’s stock valued at $14,860,000 after buying an additional 35,411 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:OC opened at $60.47 on Friday. The firm has a fifty day moving average price of $56.74 and a two-hundred day moving average price of $51.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.87 and a quick ratio of 0.89. Owens Corning has a one year low of $28.56 and a one year high of $68.72. The company has a market cap of $6.52 billion, a price-to-earnings ratio of -10.93, a PEG ratio of 4.89 and a beta of 1.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.62. Owens Corning had a negative net margin of 8.79% and a positive return on equity of 11.35%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $1.31 EPS. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. Equities research analysts expect that Owens Corning will post 3.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 16th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, July 15th. Owens Corning’s payout ratio is 21.15%.

OC has been the subject of several analyst reports. Deutsche Bank increased their price objective on shares of Owens Corning from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Credit Suisse Group started coverage on shares of Owens Corning in a research note on Wednesday, May 27th. They set a “neutral” rating and a $48.00 price target for the company. Citigroup raised their price target on shares of Owens Corning from $43.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Zelman & Associates lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, SunTrust Banks raised their price target on shares of Owens Corning from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $62.05.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial 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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Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC).

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

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