MetLife Investment Management LLC Purchases 3,439 Shares of Owens Corning (NYSE:OC)

MetLife Investment Management LLC lifted its position in shares of Owens Corning (NYSE:OC - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,367 shares of the construction company's stock after purchasing an additional 3,439 shares during the period. MetLife Investment Management LLC owned 0.06% of Owens Corning worth $8,238,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Truist Financial Corp lifted its holdings in Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock worth $2,732,000 after buying an additional 624 shares during the period. Allstate Corp purchased a new stake in Owens Corning in the fourth quarter worth $425,000. Integrated Quantitative Investments LLC bought a new stake in Owens Corning in the fourth quarter valued at $349,000. Principal Financial Group Inc. boosted its holdings in Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock valued at $66,777,000 after acquiring an additional 184,552 shares in the last quarter. Finally, Empower Advisory Group LLC increased its position in Owens Corning by 1.0% during the 4th quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company's stock valued at $87,212,000 after purchasing an additional 5,167 shares during the period. 88.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company's stock.

Owens Corning Stock Down 0.0 %

Owens Corning stock traded down $0.01 during mid-day trading on Friday, hitting $143.95. The company had a trading volume of 871,331 shares, compared to its average volume of 807,653. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock's 50 day moving average price is $144.56 and its two-hundred day moving average price is $170.97. The company has a market capitalization of $12.31 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.21 EPS. As a group, sell-side analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a $0.69 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Analyst Upgrades and Downgrades

OC has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and an average target price of $195.73.

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.