Mutual of America Capital Management LLC Sells 1,853 Shares of Owens Corning Inc $OC

Mutual of America Capital Management LLC lessened its position in Owens Corning Inc (NYSE:OC) by 4.2% in the second quarter, HoldingsChannel.com reports. The fund owned 42,298 shares of the construction company’s stock after selling 1,853 shares during the period. Mutual of America Capital Management LLC’s holdings in Owens Corning were worth $5,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Archer Investment Corp boosted its holdings in shares of Owens Corning by 17.9% during the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock worth $94,000 after buying an additional 100 shares during the period. Resonant Capital Advisors LLC boosted its holdings in shares of Owens Corning by 6.3% during the 1st quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock worth $250,000 after buying an additional 103 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Owens Corning by 6.7% during the 1st quarter. CreativeOne Wealth LLC now owns 1,649 shares of the construction company’s stock worth $236,000 after buying an additional 103 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Owens Corning by 7.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company’s stock worth $260,000 after buying an additional 127 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Owens Corning by 6.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,443 shares of the construction company’s stock worth $349,000 after buying an additional 141 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a report on Wednesday, October 8th. Jefferies Financial Group reduced their target price on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Evercore ISI cut their price objective on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Finally, Bank of America cut their price objective on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.31.

Owens Corning Stock Performance

NYSE OC opened at $130.70 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $10.93 billion, a P/E ratio of 33.95, a P/E/G ratio of 9.27 and a beta of 1.32. Owens Corning Inc has a 12-month low of $123.23 and a 12-month high of $214.53. The firm has a 50-day moving average price of $144.18 and a two-hundred day moving average price of $141.18.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.41. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.64 EPS. Analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be given a $0.69 dividend. The ex-dividend date is Monday, October 20th. This represents a $2.76 annualized dividend and a dividend yield of 2.1%. Owens Corning’s payout ratio is presently 71.69%.

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.