Owens Corning (NYSE:OC) Receives $187.77 Average PT from Brokerages

Shares of Owens Corning (NYSE:OC) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $187.77.

OC has been the subject of a number of analyst reports. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Evercore ISI upped their price objective on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Friday. Finally, Royal Bank of Canada boosted their price target on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Owens Corning Trading Up 2.0 %

Owens Corning stock opened at $180.37 on Wednesday. The business has a 50 day moving average price of $174.13 and a two-hundred day moving average price of $172.85. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a 12 month low of $117.32 and a 12 month high of $191.44. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.23 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its 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 return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the company posted $4.22 earnings per share. Owens Corning’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is presently 20.32%.

Insiders Place Their Bets

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

A number of large investors have recently made changes to their positions in the stock. ST Germain D J Co. Inc. increased its holdings in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. ORG Partners LLC bought a new position in Owens Corning during the first quarter worth about $31,000. Innealta Capital LLC acquired a new position in shares of Owens Corning during the 2nd quarter worth about $32,000. Tobam increased its stake in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Quarry LP raised its position in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds 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.