Owens Corning (NYSE:OC) Receives Consensus Rating of “Moderate Buy” from Analysts

Owens Corning (NYSE:OC) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $207.00.

Several equities research analysts have commented on the company. Royal Bank of Canada reduced their price target on Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. UBS Group lowered their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Loop Capital reduced their price objective on shares of 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, The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Trading of Owens Corning

Several institutional investors have recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC raised its stake 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 in the last quarter. Global Trust Asset Management LLC acquired a new stake in Owens Corning in the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB boosted its holdings in Owens Corning by 193.7% in the 4th 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 during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Down 3.8 %

Shares of NYSE:OC opened at $148.23 on Tuesday. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.88 and a beta of 1.46. Owens Corning has a 12 month low of $147.78 and a 12 month high of $214.53. The company’s fifty day simple moving average is $174.96 and its 200 day simple moving average is $178.82. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

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

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.86%. Owens Corning’s dividend payout ratio is currently 37.70%.

Owens Corning Company Profile

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.