MML Investors Services LLC Sells 362 Shares of Owens Corning (NYSE:OC)

MML Investors Services LLC lessened its position in Owens Corning (NYSE:OC) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,716 shares of the construction company’s stock after selling 362 shares during the period. MML Investors Services LLC’s holdings in Owens Corning were worth $1,892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OC. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after acquiring an additional 58 shares in the last quarter. PFG Investments LLC raised its stake in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares during the last quarter. Tobam lifted its holdings in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust boosted its position in shares of Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after buying an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC increased its holdings in Owens Corning by 1.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $198.33.

Owens Corning Price Performance

NYSE OC opened at $185.27 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.14 and a beta of 1.42. The company’s 50 day moving average is $191.40 and its two-hundred day moving average is $178.03.

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

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.49%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

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.