Owens Corning (NYSE:OC) Receives $162.14 Average PT from Analysts

Shares of Owens Corning (NYSE:OC) have been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $162.14.

OC has been the topic of several analyst reports. Royal Bank of Canada cut their price target on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. UBS Group decreased their price objective on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Evercore ISI cut shares of Owens Corning from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, Citigroup upped their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th.

Insider Activity at Owens Corning

In other news, insider Gunner Smith sold 657 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the transaction, the insider now owns 37,587 shares in the company, valued at approximately $5,764,342.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction of $100,757.52. Following the completion of the transaction, the insider now owns 37,587 shares in the company, valued at approximately $5,764,342.32. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Owens Corning during the first quarter valued at approximately $440,000. KRS Capital Management LLC acquired a new position in Owens Corning in the first quarter worth $200,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Owens Corning by 10.1% during 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 acquiring an additional 608 shares during the period. Atlas Capital Advisors LLC boosted its holdings in shares of Owens Corning by 5.5% during the first quarter. Atlas Capital Advisors LLC now owns 4,396 shares of the construction company’s stock valued at $733,000 after acquiring an additional 229 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of Owens Corning during the first quarter valued at $28,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $162.92 on Friday. Owens Corning has a 1-year low of $98.02 and a 1-year high of $173.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.28 and a beta of 1.47. The business’s fifty day moving average price is $157.44 and its 200-day moving average price is $144.85.

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

Owens Corning Dividend Announcement

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

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.