Owens Corning (NYSE:OC) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Owens Corning (NYSE:OC) from a buy rating to a hold rating in a report published on Friday.

Several other analysts have also recently commented on OC. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Evercore ISI increased their target price on shares of Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. UBS Group lifted their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays reduced 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. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $187.77.

Owens Corning Stock Up 2.0 %

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

Owens Corning (NYSE:OC) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.22 earnings per share. Equities research analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.32%.

Insider Buying and Selling at Owens Corning

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

Hedge Funds Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently made changes to their positions in OC. ST Germain D J Co. Inc. lifted its position in 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 acquiring an additional 135 shares in the last quarter. ORG Partners LLC bought a new position in shares of Owens Corning during the first quarter valued at about $31,000. Innealta Capital LLC purchased a new position in Owens Corning during the second quarter worth about $32,000. Tobam increased its stake in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of 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 in the last quarter. 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.