Do Owens Corning’s Top Institutional Shareholders Fear the Roof Collapsing?

Owens Corning (NYSE:OC) previously disclosed late second-quarter weakness in the United States roofing shingle market which persisted early into the third quarter. While there was some improvement through most of that quarter, shipments weakened following a mid-September price increase and are not expected to improve for the remainder of year. As a result, the company has lowered their roofing revenue outlook for the full-year, now estimated to be approximately $2 billion.

Will Owen Corning’s largest shareholders decrease their holdings?  These institutional firms indicated owning shares of Owens Corning (NYSE:OC) in Q3 2012. They reported owning a total of 36,810 shares on 09/30/2012. The shares closed at $33.46 on 09/30/2012.

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Here are the ten largest positions in Owens Corning at the end of September 30th, 2012.

Tradeworx Inc. held 18,497 shares on 09/30/2012 worth $618,910. This brought the portfolio total to 0.43%.

First Citizens Bank & Trust Co held 11,136 shares on 09/30/2012 worth $372,611. This brought the portfolio total to 0.01%.

Virtu Financial LLC held 7,140 shares on 09/30/2012 worth $238,904. This brought the portfolio total to 0.02%.

West Oak Capital LLC held 37 shares on 09/30/2012 worth $1,238. This brought the portfolio total to 0.0%.

FMR LLC held 15,549,976 shares on 06/30/2012 worth $443,796,329. This brought the portfolio total to 0.09%.

Wayzata Investment Partners LLC held 10,556,405 shares on 06/30/2012 worth $301,279,808. This brought the portfolio total to 41.29%.

Franklin Resources Inc held 5,890,102 shares on 06/30/2012 worth $168,103,516. This brought the portfolio total to 0.12%.

Vanguard Group Inc held 5,108,143 shares on 06/30/2012 worth $145,786,406. This brought the portfolio total to 0.02%.

Sasco Capital Inc /CT/ held 4,735,324 shares on 06/30/2012 worth $135,146,151. This brought the portfolio total to 2.86%.

Maverick Capital Ltd held 4,338,920 shares on 06/30/2012 worth $123,832,781. This brought the portfolio total to 1.81%.

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