Owens Corning Inc (NYSE:OC) Given Average Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Owens Corning Inc (NYSE:OC – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $163.25.

Several equities research analysts have recently weighed in on OC shares. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th.

Get Our Latest Analysis on OC

Insider Transactions at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

Institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in Owens Corning during the first quarter worth about $2,576,000. BNP Paribas Financial Markets raised its stake in shares of Owens Corning by 178.2% in the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after acquiring an additional 119,566 shares during the last quarter. Raiffeisen Bank International AG raised its stake in shares of Owens Corning by 12.4% in the fourth quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock valued at $39,976,000 after acquiring an additional 38,885 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of Owens Corning by 10.8% in the 4th quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after acquiring an additional 23,873 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Owens Corning by 1,243.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 39,134 shares of the construction company’s stock worth $4,379,000 after acquiring an additional 36,222 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $153.64 on Tuesday. The stock has a 50-day simple moving average of $137.36 and a 200 day simple moving average of $125.39. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.91. The stock has a market capitalization of $12.15 billion, a PE ratio of -19.06, a P/E/G ratio of 2.73 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16.

Owens Corning (NYSE:OC – Get Free Report) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $4.21 EPS. Research analysts anticipate that Owens Corning will post 9.65 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.1%. Owens Corning’s dividend payout ratio (DPR) is -39.21%.

About Owens Corning

(Get Free Report)

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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