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

Owens Corning (NYSE:OC) has received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $184.23.

Several research firms have recently commented on OC. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. UBS Group increased their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 price target on shares of Owens Corning in a research report on Monday, June 17th. Finally, Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $178.00 to $191.00 in a report on Thursday, July 11th.

Owens Corning Stock Down 0.3 %

Shares of NYSE:OC opened at $172.01 on Friday. The firm has a market cap of $14.91 billion, a P/E ratio of 13.93, a PEG ratio of 3.47 and a beta of 1.41. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The business’s 50 day simple moving average is $167.21 and its two-hundred day simple moving average is $170.47. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the business posted $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of Owens Corning during the 2nd quarter worth about $3,598,000. Kestra Investment Management LLC acquired a new position in Owens Corning during the 2nd quarter valued at about $328,000. Cetera Investment Advisers raised its holdings in shares of Owens Corning by 18.8% in the second quarter. Cetera Investment Advisers now owns 15,170 shares of the construction company’s stock worth $2,635,000 after buying an additional 2,405 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Owens Corning during the second quarter worth about $753,000. Finally, Truist Financial Corp raised its holdings in shares of Owens Corning by 17.3% during the second quarter. Truist Financial Corp now owns 25,937 shares of the construction company’s stock worth $4,506,000 after purchasing an additional 3,816 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

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.