Owens Corning (NYSE:OC) Receives $179.00 Average PT from Analysts

Shares of Owens Corning (NYSE:OC) have been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $179.00.

OC has been the subject of several research analyst reports. Barclays upped their price objective on shares of Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, June 3rd. Loop Capital upped their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Jefferies Financial Group initiated coverage on shares of Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price objective for the company. StockNews.com upgraded shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Argus increased their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th.

Owens Corning Stock Performance

NYSE:OC opened at $173.72 on Thursday. The firm has a market capitalization of $15.05 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46. The business’s fifty day moving average price is $175.48 and its 200 day moving average price is $161.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. Owens Corning has a 12 month low of $109.95 and a 12 month high of $184.00.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating 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%. Owens Corning’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.77 earnings per share. On average, sell-side analysts anticipate that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. Owens Corning’s dividend payout ratio is currently 19.43%.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now directly owns 34,626 shares in the company, valued at approximately $6,262,112.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the sale, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The disclosure for this sale can be found here. Insiders sold 16,360 shares of company stock worth $2,916,365 in the last ninety days. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Owens Corning by 6,116.6% in the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after purchasing an additional 819,201 shares in the last quarter. Norges Bank acquired a new stake in Owens Corning during the fourth quarter worth about $118,251,000. Nordea Investment Management AB raised its stake in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after acquiring an additional 533,910 shares during the period. Swedbank AB acquired a new stake in Owens Corning during the first quarter worth about $60,424,000. Finally, Bank of Nova Scotia raised its stake in Owens Corning by 9,571.1% during the fourth quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock worth $21,287,000 after acquiring an additional 142,131 shares during the period. Institutional investors and hedge funds 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.