Mutual of America Capital Management LLC Decreases Stake in Owens Corning (NYSE:OC)

Mutual of America Capital Management LLC cut its stake in Owens Corning (NYSE:OC - Free Report) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,993 shares of the construction company's stock after selling 2,623 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Owens Corning worth $8,295,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in OC. Point72 Asset Management L.P. lifted its stake in Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock worth $128,772,000 after acquiring an additional 464,981 shares during the period. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock valued at $276,655,000 after buying an additional 446,073 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company's stock valued at $65,815,000 after buying an additional 365,853 shares during the last quarter. Swedbank AB purchased a new stake in shares of Owens Corning during the first quarter valued at about $60,424,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Owens Corning during the second quarter valued at about $35,970,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company's stock, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company's stock.

Owens Corning Price Performance

Shares of NYSE OC traded down $0.91 during mid-day trading on Tuesday, reaching $194.39. The company's stock had a trading volume of 421,445 shares, compared to its average volume of 685,588. The stock has a 50-day moving average of $179.89 and a two-hundred day moving average of $174.79. The stock has a market capitalization of $16.67 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 1-year low of $129.24 and a 1-year high of $199.54.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.15 earnings per share. On average, equities research analysts anticipate that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, October 18th. Owens Corning's dividend payout ratio (DPR) is 20.43%.

Analyst Upgrades and Downgrades

OC has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.62.

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.