Owens Corning (NYSE:OC) Hits New 12-Month High – Still a Buy?

Owens Corning (NYSE:OC)’s stock price hit a new 52-week high on Friday . The company traded as high as $200.12 and last traded at $199.21, with a volume of 31175 shares traded. The stock had previously closed at $197.58.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Evercore ISI lifted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market capitalization of $17.39 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.41. The stock’s fifty day moving average is $182.76 and its 200-day moving average is $175.40.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. Owens Corning’s payout ratio is presently 20.43%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. ST Germain D J Co. Inc. raised its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Owens Corning in the 2nd quarter worth approximately $32,000. Tobam lifted its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares during the period. Brooklyn Investment Group acquired a new stake in Owens Corning in the 3rd quarter valued at $38,000. Finally, Quarry LP grew its position in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. 88.40% of the stock is currently owned by institutional investors.

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.