Owens Corning (NYSE:OC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Owens Corning (NYSE:OC) have earned a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $179.00.

Several equities analysts have recently commented on the company. Barclays boosted their price objective on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. Loop Capital boosted their target price on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Argus raised their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 price target on shares of Owens Corning in a research note on Monday, June 17th. Finally, UBS Group raised their price objective on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, April 25th.

Owens Corning Trading Down 3.6 %

Shares of OC stock opened at $167.54 on Thursday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $184.00. The firm has a fifty day moving average price of $175.54 and a 200-day moving average price of $161.88. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 5.17 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.77 earnings per share. As a group, equities analysts predict that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be given a $0.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Mari Doerfler sold 240 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,360 shares of company stock valued at $3,437,315. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several large investors have recently modified their holdings of OC. MV Capital Management Inc. boosted its position in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning in the first quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning during the fourth quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning during the 4th quarter valued at about $27,000. Finally, Riverview Trust Co acquired a new position in shares of Owens Corning during the first quarter valued at about $28,000. 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.