MassMutual Private Wealth & Trust FSB Has $454,000 Stock Holdings in Owens Corning (NYSE:OC)

MassMutual Private Wealth & Trust FSB decreased its stake in shares of Owens Corning (NYSE:OC) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,668 shares of the construction company’s stock after selling 764 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Owens Corning were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OC. Brooklyn Investment Group bought a new position in Owens Corning during the third quarter worth about $38,000. Quarry LP lifted its position in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after buying an additional 144 shares during the last quarter. Tobam boosted its stake in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the period. Versant Capital Management Inc increased its holdings in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after acquiring an additional 178 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Owens Corning by 85.3% during the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after acquiring an additional 237 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OC shares. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI increased their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Trading Up 2.6 %

Shares of NYSE:OC opened at $187.42 on Wednesday. The business’s 50 day simple moving average is $185.81 and its 200 day simple moving average is $177.68. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market capitalization of $16.08 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business earned $4.15 earnings per share. Owens Corning’s revenue was up 22.9% on a year-over-year basis. On average, research analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is 23.49%.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.