Owens Corning (NYSE:OC) – Equities research analysts at KeyCorp boosted their FY2018 earnings estimates for Owens Corning in a research report issued on Thursday. KeyCorp analyst K. Zener now anticipates that the construction company will post earnings per share of $5.07 for the year, up from their previous estimate of $4.78. KeyCorp has a “Buy” rating and a $115.00 price target on the stock.
Several other brokerages also recently commented on OC. Seaport Global Securities lifted their price target on Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Thursday, October 26th. Royal Bank of Canada reissued a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Wednesday, December 27th. Finally, Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Owens Corning presently has an average rating of “Buy” and a consensus price target of $84.77.
Shares of Owens Corning (OC) traded up $0.43 during trading on Monday, hitting $95.92. 702,800 shares of the stock were exchanged, compared to its average volume of 758,778. The firm has a market cap of $10,670.00, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09. Owens Corning has a fifty-two week low of $52.48 and a fifty-two week high of $95.99. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS.
A number of institutional investors have recently bought and sold shares of the business. Federated Investors Inc. PA increased its stake in Owens Corning by 107.8% during the 2nd quarter. Federated Investors Inc. PA now owns 14,706 shares of the construction company’s stock worth $983,000 after acquiring an additional 7,630 shares during the period. Martingale Asset Management L P bought a new stake in Owens Corning in the 2nd quarter valued at $651,000. Teachers Advisors LLC increased its holdings in Owens Corning by 2.8% in the 2nd quarter. Teachers Advisors LLC now owns 469,294 shares of the construction company’s stock valued at $31,405,000 after acquiring an additional 12,763 shares during the last quarter. Amalgamated Bank increased its holdings in Owens Corning by 22.4% in the 2nd quarter. Amalgamated Bank now owns 20,169 shares of the construction company’s stock valued at $1,350,000 after acquiring an additional 3,692 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its holdings in Owens Corning by 88.1% in the 2nd quarter. BlueMountain Capital Management LLC now owns 15,592 shares of the construction company’s stock valued at $1,043,000 after acquiring an additional 7,301 shares during the last quarter. 94.55% of the stock is currently owned by institutional investors.
In other Owens Corning news, CFO Michael C. Mcmurray sold 18,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $90.78, for a total value of $1,634,040.00. Following the transaction, the chief financial officer now owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Ava Harter sold 487 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $81.96, for a total value of $39,914.52. The disclosure for this sale can be found here. In the last three months, insiders sold 129,933 shares of company stock worth $11,196,722. Insiders own 1.80% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.84 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.20. Owens Corning’s payout ratio is currently 25.07%.
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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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