Owens Corning (NYSE:OC) Releases Earnings Results

Owens Corning (NYSE:OC) posted its quarterly earnings results on Wednesday. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33, Briefing.com reports. 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 for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business earned $4.15 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Owens Corning updated its Q4 2024 guidance to EPS.

Owens Corning Stock Performance

NYSE:OC traded up $3.02 on Friday, hitting $190.44. The stock had a trading volume of 796,320 shares, compared to its average volume of 697,772. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The business’s 50-day simple moving average is $175.83 and its two-hundred day simple moving average is $173.64. Owens Corning has a 52-week low of $121.08 and a 52-week high of $193.93.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Wall Street Analyst Weigh In

OC has been the topic of a number of research reports. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group upped their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% 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.