Owens Corning (NYSE:OC) Short Interest Update

Owens Corning (NYSE:OC) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,250,000 shares, a growth of 23.8% from the February 28th total of 1,010,000 shares. Based on an average trading volume of 999,900 shares, the short-interest ratio is currently 1.3 days. Approximately 1.5% of the company’s shares are short sold.

Insiders Place Their Bets

In other 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 completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

OC has been the topic of a number of research reports. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. JPMorgan Chase & Co. dropped their price objective 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. Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Owens Corning Trading Up 2.2 %

NYSE OC traded up $3.12 on Wednesday, hitting $147.20. 599,061 shares of the stock were exchanged, compared to its average volume of 780,862. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company’s 50-day moving average price is $162.15 and its two-hundred day moving average price is $175.91.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company earned $3.21 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

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.