Owens Corning (NYSE:OC) Given Consensus Rating of “Hold” by Analysts

Shares of Owens Corning (NYSE:OC) have been assigned 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 rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $179.00.

Several brokerages have recently issued reports on OC. Loop Capital raised their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Royal Bank of Canada raised their target price on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. UBS Group boosted their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Argus lifted their price target on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Barclays raised their price target on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, June 3rd.

Owens Corning Stock Down 3.6 %

NYSE OC opened at $167.54 on Thursday. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The firm has a market cap of $14.52 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 5.17 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $175.54 and its 200 day simple moving average is $161.88.

Owens Corning (NYSE:OC) last announced its 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 company 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%. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.77 earnings per share. As a group, sell-side analysts forecast that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.43%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Transactions at Owens Corning

In related news, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the sale, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the sale, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares in the company, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. Insiders have sold a total of 19,360 shares of company stock worth $3,437,315 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OC. MV Capital Management Inc. grew its holdings in shares of Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Owens Corning during the first quarter worth $26,000. Contravisory Investment Management Inc. acquired a new stake in shares of Owens Corning during the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Owens Corning during the fourth quarter valued at about $27,000. Finally, Riverview Trust Co bought a new stake in Owens Corning during the 1st quarter worth approximately $28,000. Institutional investors own 88.40% of the company’s stock.

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.