Owens Corning (NYSE:OC) Upgraded at StockNews.com

StockNews.com upgraded shares of Owens Corning (NYSE:OC) from a hold rating to a buy rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. Barclays cut their price target 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. UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Price Performance

OC opened at $193.46 on Friday. Owens Corning has a 52-week low of $123.10 and a 52-week high of $197.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The stock’s 50 day moving average price is $176.32 and its 200-day moving average price is $173.94. The stock has a market capitalization of $16.60 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.15 EPS. On average, equities research analysts predict that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.24%. Owens Corning’s dividend payout ratio is presently 20.43%.

Insider Buying and Selling at Owens Corning

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

Hedge Funds Weigh In On Owens Corning

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Owens Corning by 14.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after purchasing an additional 14,011 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Owens Corning during the 1st quarter worth approximately $997,000. Twin Tree Management LP increased its position in Owens Corning by 61.8% during the first quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock worth $1,501,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new stake in Owens Corning during the first quarter worth $539,000. Hedge funds and other 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.