Owens Corning (NYSE:OC) Reaches New 52-Week Low – Should You Sell?

Shares of Owens Corning (NYSE:OC) reached a new 52-week low on Thursday . The stock traded as low as $134.26 and last traded at $134.76, with a volume of 114253 shares. The stock had previously closed at $147.19.

Analyst Upgrades and Downgrades

OC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research note on Tuesday. They set a “buy” rating and a $183.00 price objective for the company. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Wells Fargo & Company dropped their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.42.

Owens Corning Stock Performance

The stock has a market capitalization of $11.77 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The firm’s fifty day moving average is $162.15 and its 200-day moving average is $175.91. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 EPS. As a group, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently bought and sold shares of OC. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC increased its stake in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the 4th quarter valued at approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.