Owens Corning Inc (NYSE:OC) has received an average recommendation of “Buy” from the twenty-one ratings firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $76.61.
Several research firms have recently weighed in on OC. FBR & Co lifted their price objective on Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. lifted their price objective on Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a research note on Thursday, October 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Owens Corning in a research note on Friday, July 28th. Finally, BidaskClub lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th.
In other Owens Corning news, Chairman Michael H. Thaman sold 130,700 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the completion of the transaction, the chairman now owns 847,992 shares in the company, valued at approximately $63,557,000.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael C. Mcmurray sold 14,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $76.52, for a total value of $1,071,280.00. Following the transaction, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,266 shares of company stock valued at $14,529,782. 1.80% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in OC. PGGM Investments acquired a new position in Owens Corning during the 2nd quarter worth $26,366,000. Boston Partners acquired a new position in Owens Corning during the 2nd quarter worth $26,195,000. FMR LLC boosted its position in Owens Corning by 118.4% during the 2nd quarter. FMR LLC now owns 572,911 shares of the construction company’s stock worth $38,339,000 after acquiring an additional 310,559 shares during the period. Principal Financial Group Inc. boosted its position in Owens Corning by 213.0% during the 3rd quarter. Principal Financial Group Inc. now owns 436,865 shares of the construction company’s stock worth $33,792,000 after acquiring an additional 297,311 shares during the period. Finally, LSV Asset Management boosted its position in Owens Corning by 21.2% during the 2nd quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock worth $112,432,000 after acquiring an additional 294,400 shares during the period. Institutional investors own 98.75% of the company’s stock.
Owens Corning (NYSE:OC) traded up $0.06 during trading on Friday, reaching $81.56. The company had a trading volume of 1,008,643 shares, compared to its average volume of 1,209,383. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. Owens Corning has a 1 year low of $46.50 and a 1 year high of $83.31. The stock has a market cap of $9,072.82, a PE ratio of 20.29, a PEG ratio of 1.43 and a beta of 1.08.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. equities research analysts predict that Owens Corning will post 4.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Monday, October 16th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. Owens Corning’s payout ratio is currently 23.88%.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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