Owens Corning (NYSE:OC) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Owens Corning (NYSE:OC) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

OC has been the subject of several other research reports. Citigroup raised Owens Corning from a neutral rating to a buy rating and raised their price objective for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. UBS Group upped their target price on shares of Owens Corning from $192.00 to $197.00 and gave the company a buy rating in a report on Wednesday, August 7th. Loop Capital lifted their price target on shares of Owens Corning from $188.00 to $215.00 and gave the company a buy rating in a report on Friday, June 21st. Evercore ISI decreased their price target on Owens Corning from $188.00 to $175.00 and set an in-line rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group reissued a neutral rating and issued a $187.00 price target on shares of Owens Corning in a report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $184.23.

Owens Corning Trading Down 0.3 %

Shares of OC opened at $172.01 on Tuesday. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 3.47 and a beta of 1.41. The firm has a 50 day moving average price of $167.21 and a 200-day moving average price of $170.47. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $4.22 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts forecast that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is 19.43%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several institutional investors and hedge funds have recently modified their holdings of OC. MV Capital Management Inc. grew its holdings in 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 acquiring an additional 79 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. NBC Securities Inc. purchased a new position in Owens Corning during the first quarter valued at approximately $26,000. Riverview Trust Co bought a new position in Owens Corning in the first quarter worth approximately $28,000. Finally, ORG Partners LLC purchased a new stake in Owens Corning during the first quarter worth $31,000. 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.