Owens Corning (NYSE:OC) Posts Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Owens Corning (NYSE:OC) announced its quarterly earnings data on Monday. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35, Zacks reports. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%.

Owens Corning Trading Down 4.0 %

Shares of OC stock opened at $165.25 on Monday. The firm has a market capitalization of $14.17 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $177.43 and its 200 day simple moving average is $178.95. Owens Corning has a 1 year low of $143.50 and a 1 year high of $214.53.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Analysts Set New Price Targets

OC has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.30.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 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.