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

Owens Corning (NYSE:OC) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $183.92.

OC has been the topic of a number of recent analyst reports. UBS Group boosted their target price on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Argus upped their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Barclays reduced their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada upped 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. Finally, Evercore ISI lifted their target price on Owens Corning from $172.00 to $188.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th.

Owens Corning Price Performance

NYSE:OC opened at $180.08 on Monday. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company has a market cap of $15.61 billion, a P/E ratio of 14.58, a P/E/G ratio of 5.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The stock’s 50-day simple moving average is $175.56 and its 200 day simple moving average is $164.94.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.77 EPS. As a group, sell-side analysts forecast that Owens Corning will post 15.44 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, July 15th. Owens Corning’s dividend payout ratio is 19.43%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares in the company, valued at approximately $11,195,310. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the sale, the insider now owns 62,895 shares in the company, valued at $11,195,310. The disclosure for this sale can be found here. Insiders sold 19,360 shares of company stock valued at $3,437,315 in the last quarter. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently made changes to their positions in the company. MV Capital Management Inc. increased its stake in Owens Corning by 112.9% in the first 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 during the last quarter. NBC Securities Inc. acquired a new stake in shares of Owens Corning in the 1st quarter valued at $26,000. ST Germain D J Co. Inc. increased its stake in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Owens Corning during the 1st quarter worth $28,000. Finally, ORG Partners LLC bought a new stake in shares of Owens Corning during the 1st quarter worth $31,000. Institutional investors 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.