Owens Corning (NYSE:OC) Receives Average Recommendation of “Moderate Buy” from Analysts

Owens Corning (NYSE:OC) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $187.77.

A number of brokerages have weighed in on OC. Evercore ISI lifted their price objective on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Barclays dropped their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday.

Owens Corning Trading Up 2.0 %

NYSE:OC opened at $180.34 on Wednesday. Owens Corning has a 12-month low of $117.32 and a 12-month high of $191.44. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The stock’s 50 day simple moving average is $174.13 and its 200-day simple moving average is $172.92. The firm has a market cap of $15.68 billion, a P/E ratio of 15.27, a PEG ratio of 2.17 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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 company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.22 EPS. Equities analysts anticipate that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.33%. Owens Corning’s dividend payout ratio is currently 20.32%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred 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 directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

Several hedge funds have recently made changes to their positions in the business. Retirement Guys Formula LLC boosted its position in shares of Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after acquiring an additional 58 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the last quarter. Tobam boosted its holdings in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. First Bank & Trust grew its stake in shares of Owens Corning by 2.0% during the 3rd 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 period. Finally, Bessemer Group Inc. increased its holdings in shares of Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.