Owens Corning (NYSE:OC) Receives Average Rating of “Hold” from Analysts

Shares of Owens Corning (NYSE:OC) have been assigned an average rating of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $179.00.

A number of research firms have recently commented on OC. Barclays raised their price target on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Argus lifted their price objective on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Loop Capital lifted their price objective on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Finally, Royal Bank of Canada lifted their price objective on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st.

Owens Corning Stock Performance

NYSE:OC opened at $173.40 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The business has a fifty day simple moving average of $174.98 and a two-hundred day simple moving average of $161.26. Owens Corning has a 1 year low of $109.95 and a 1 year high of $184.00. The company has a market capitalization of $15.03 billion, a P/E ratio of 14.04, a P/E/G ratio of 5.18 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company earned $2.77 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Buying and Selling at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares in the company, valued at $6,262,112.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares in the company, valued at $6,262,112.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,360 shares of company stock valued at $2,916,365 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC raised its stake in shares of Owens Corning by 66.0% during the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after acquiring an additional 84,958 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Owens Corning by 11.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock valued at $6,348,000 after acquiring an additional 4,259 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Owens Corning by 452.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after acquiring an additional 15,667 shares in the last quarter. EMG Holdings L.P. bought a new position in Owens Corning in the fourth quarter worth approximately $5,336,000. Finally, Bridgefront Capital LLC bought a new position in Owens Corning in the fourth quarter worth approximately $910,000. Institutional investors own 88.40% of the company’s stock.

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.