Owens Corning (NYSE:OC) Receives Average Rating of “Hold” from Brokerages

Shares of Owens Corning (NYSE:OC) have received a consensus rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $179.00.

OC has been the topic of a number of research analyst reports. Loop Capital boosted their price target on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Barclays upped their target price on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, June 3rd. Jefferies Financial Group began coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target on the stock. Argus upped their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a research note on Monday, June 17th.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the sale, the insider now directly owns 62,895 shares of the company’s stock, valued at $11,195,310. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred 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 sale, the insider now owns 62,895 shares in the company, valued at $11,195,310. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The disclosure for this sale can be found here. Insiders have sold a total of 19,360 shares of company stock valued at $3,437,315 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC grew its stake in shares of Owens Corning by 66.0% in the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after acquiring an additional 84,958 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Owens Corning by 11.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after purchasing an additional 4,259 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in Owens Corning by 452.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after purchasing an additional 15,667 shares during the period. EMG Holdings L.P. purchased a new stake in Owens Corning during the 4th quarter valued at $5,336,000. Finally, Bridgefront Capital LLC bought a new position in shares of Owens Corning during the 4th quarter valued at $910,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 0.1 %

Shares of Owens Corning stock opened at $168.53 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company’s 50 day moving average price is $175.63 and its 200-day moving average price is $162.04. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 5.17 and a beta of 1.42.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.77 EPS. Equities research analysts forecast that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s dividend payout ratio is 19.43%.

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.