Owens Corning (NYSE:OC) Given Average Rating of “Moderate Buy” by Analysts

Owens Corning (NYSE:OC) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $204.18.

Several research firms recently weighed in on OC. Wells Fargo & Company reduced their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays lowered their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Citigroup dropped their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently bought and sold shares of OC. Daiwa Securities Group Inc. increased its position in Owens Corning by 5.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company’s stock valued at $2,399,000 after buying an additional 700 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Owens Corning by 36.6% in the third quarter. Loomis Sayles & Co. L P now owns 3,094 shares of the construction company’s stock worth $546,000 after acquiring an additional 829 shares in the last quarter. Private Trust Co. NA grew its stake in Owens Corning by 44.8% in the third quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock valued at $100,000 after acquiring an additional 175 shares during the period. Brooklyn Investment Group bought a new stake in shares of Owens Corning during the third quarter valued at approximately $38,000. Finally, Glenmede Trust Co. NA raised its position in shares of Owens Corning by 3.7% during the third quarter. Glenmede Trust Co. NA now owns 92,934 shares of the construction company’s stock worth $16,405,000 after purchasing an additional 3,288 shares during the period. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 3.1 %

OC stock opened at $142.64 on Friday. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The business has a 50-day simple moving average of $164.63 and a 200 day simple moving average of $176.15. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $12.20 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. Sell-side analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm 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 $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

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.