Owens Corning (NYSE:OC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Owens Corning (NYSE:OC) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $187.77.

Several analysts have weighed in on the company. Barclays lowered their target price 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. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Royal Bank of Canada increased their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Evercore ISI upped their target price on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th.

Insider Activity

In related 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 value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 dated 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 sale, 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 this link. Also, insider Marcio A. Sandri sold 3,050 shares of the firm’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 owns 60,130 shares in the company, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several institutional investors have recently bought and sold shares of OC. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after buying an additional 58 shares in the last quarter. PFG Investments LLC lifted its position in Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares in the last quarter. Tobam boosted its holdings in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the period. First Bank & Trust grew its position in Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after acquiring an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Owens Corning by 24.9% during the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Down 2.1 %

Shares of NYSE:OC opened at $181.13 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.23 and a beta of 1.41. Owens Corning has a fifty-two week low of $111.57 and a fifty-two week high of $191.44. The firm’s 50-day simple moving average is $173.33 and its 200-day simple moving average is $172.65.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion for 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%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.22 earnings per share. As a group, equities research analysts predict that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.33%. Owens Corning’s payout ratio is 20.32%.

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.