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

MassMutual Private Wealth & Trust FSB lowered its stake in Owens Corning (NYSE:OC) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,668 shares of the construction company’s stock after selling 764 shares during the period. 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 hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 Asset Management L.P. raised its holdings in Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after buying an additional 464,981 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in Owens Corning in the third quarter valued at $43,559,000. Finally, Nordea Investment Management AB raised its position in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $187.42 on Wednesday. The stock has a 50-day moving average of $185.81 and a 200-day moving average of $177.68. Owens Corning has a one year low of $138.70 and a one 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 cap of $16.08 billion, a PE ratio of 15.95, a P/E/G ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $4.15 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities research analysts predict that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

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

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction that occurred 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 $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup dropped their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Loop Capital decreased their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning 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.