Mutual of America Capital Management LLC Has $8.62 Million Position in Owens Corning (NYSE:OC)

Mutual of America Capital Management LLC reduced its stake in Owens Corning (NYSE:OC) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,616 shares of the construction company’s stock after selling 3,340 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Owens Corning worth $8,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OC. Private Advisor Group LLC acquired a new position in shares of Owens Corning in the fourth quarter valued at $296,000. Avantax Advisory Services Inc. increased its holdings in shares of Owens Corning by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after purchasing an additional 69 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Owens Corning in the fourth quarter valued at $490,000. Norges Bank acquired a new position in shares of Owens Corning in the fourth quarter valued at $118,251,000. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Owens Corning by 1.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,348 shares of the construction company’s stock valued at $793,000 after purchasing an additional 94 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OC has been the topic of several research reports. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. UBS Group upped their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Finally, Evercore ISI decreased their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Insider Transactions at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 0.9 %

OC stock opened at $172.33 on Thursday. The stock has a market capitalization of $14.93 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The firm has a 50-day moving average price of $167.53 and a 200-day moving average price of $169.16.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.22 earnings per share. As a group, equities research analysts anticipate that Owens Corning will post 15.38 EPS for the current fiscal year.

About Owens Corning

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.