Owens Corning (NYSE:OC) Receives Consensus Recommendation of “Hold” from Analysts

Owens Corning (NYSE:OC) has earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $179.00.

A number of equities research analysts have commented on OC shares. Evercore ISI raised their price objective on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research note on Thursday, April 25th. Citigroup raised their price objective on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Barclays raised their price objective on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, June 3rd. Jefferies Financial Group started coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Loop Capital raised their price objective on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st.

Owens Corning Trading Down 0.3 %

NYSE OC opened at $173.40 on Thursday. The business has a 50 day simple moving average of $174.98 and a 200 day simple moving average of $161.26. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The stock has a market capitalization of $15.03 billion, a P/E ratio of 14.04, a P/E/G ratio of 5.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the firm posted $2.77 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. Research analysts expect that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 9,697 shares of Owens Corning stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the sale, the insider now directly owns 62,895 shares in the company, valued at $11,195,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the sale, the insider now directly owns 62,895 shares of the company’s stock, valued at $11,195,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the sale, the vice president now directly owns 4,954 shares of the company’s stock, valued at $901,875.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,360 shares of company stock worth $2,916,365. 0.89% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

A number of large investors have recently bought and sold shares of OC. MV Capital Management Inc. grew its position in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Owens Corning in the first quarter valued at $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Owens Corning in the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Owens Corning in the fourth quarter valued at $27,000. Finally, Riverview Trust Co purchased a new position in shares of Owens Corning in the first quarter valued at $28,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.