Owens Corning (NYSE:OC) Given Average Recommendation of “Hold” by Brokerages

Shares of Owens Corning (NYSE:OC) have been assigned a consensus rating of “Hold” from the fifteen analysts that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $162.14.

Several research firms recently weighed in on OC. UBS Group dropped their price objective on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Citigroup raised their price objective on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Loop Capital increased their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Evercore ISI cut Owens Corning from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $163.00 to $154.00 in a report on Thursday, February 15th.

Owens Corning Price Performance

OC stock opened at $162.92 on Friday. Owens Corning has a 52-week low of $98.02 and a 52-week high of $173.65. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $157.44 and a two-hundred day moving average of $144.85. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.39. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. Owens Corning’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.49 EPS. As a group, research analysts anticipate that Owens Corning will post 13.77 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.47%. Owens Corning’s payout ratio is 18.29%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the sale, the insider now directly owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Owens Corning news, insider Gunner Smith sold 708 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the sale, the insider now directly owns 39,994 shares in the company, valued at $6,148,277.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock valued at $3,325,799 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

A number of large investors have recently made changes to their positions in OC. Dumont & Blake Investment Advisors LLC bought a new position in shares of Owens Corning during the 1st quarter worth approximately $440,000. KRS Capital Management LLC acquired a new stake in shares of Owens Corning during the first quarter valued at about $200,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Owens Corning by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,632 shares of the construction company’s stock valued at $1,106,000 after purchasing an additional 608 shares in the last quarter. Atlas Capital Advisors LLC lifted its stake in Owens Corning by 5.5% in the first quarter. Atlas Capital Advisors LLC now owns 4,396 shares of the construction company’s stock worth $733,000 after acquiring an additional 229 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Owens Corning during the 1st quarter worth approximately $28,000. 88.40% of the stock is currently owned by institutional investors.

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.