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

MetLife Investment Management LLC increased its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,367 shares of the construction company's stock after buying an additional 3,439 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Owens Corning worth $8,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC increased its position in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning during the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the fourth quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a report on Monday, April 14th. StockNews.com cut Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Benchmark restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. 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 report on Tuesday, March 4th. Finally, Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $195.73.

Owens Corning Trading Down 0.0 %

OC traded down $0.01 during trading on Friday, hitting $143.95. The company's stock had a trading volume of 871,331 shares, compared to its average volume of 808,779. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The stock's fifty day moving average price is $144.56 and its 200-day moving average price is $170.86. The firm has a market capitalization of $12.31 billion, a P/E ratio of 12.25, a PEG ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. Owens Corning's revenue for the quarter was up 23.3% on a year-over-year basis. Analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend 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 currently 37.70%.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

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.