Owens Corning Inc (OC) – What Are Brokerages Saying About This Stock?

Owens Corning Inc (NYSE:OC) has been assigned an average rating of “Hold” from the eighteen ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $142.07.

OC has been the topic of several research analyst reports. Evercore set a $185.00 price target on shares of Owens Corning in a research report on Thursday, October 1st. Citigroup increased their price objective on shares of Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a report on Monday, September 21st. Vertical Research cut shares of Owens Corning from a “hold” rating to a “sell” rating and set a $106.00 price objective for the company. in a report on Wednesday, October 7th. Finally, Wells Fargo & Company lowered their target price on Owens Corning from $150.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 16th.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the transaction, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

Several institutional investors and hedge funds have recently modified their holdings of the company. Tiptree Advisors LLC bought a new stake in shares of Owens Corning in the second quarter worth about $11,445,000. Louisiana State Employees Retirement System bought a new position in Owens Corning during the first quarter valued at approximately $2,576,000. Nykredit A S bought a new position in Owens Corning during the second quarter valued at approximately $166,083,000. Cibc World Market Inc. purchased a new position in Owens Corning during the 2nd quarter valued at approximately $4,578,000. Finally, Bank of America Corp DE purchased a new position in Owens Corning during the 2nd quarter valued at approximately $133,685,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Down 0.6%

Shares of OC opened at $120.91 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $9.56 billion, a P/E ratio of -15.00, a PEG ratio of 3.57 and a beta of 1.32. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.91. The firm has a fifty day simple moving average of $124.27 and a two-hundred day simple moving average of $126.13.

Owens Corning (NYSE:OC) last announced its quarterly 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. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business earned $4.21 EPS. Owens Corning’s revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Owens Corning will post 9.39 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, October 19th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, October 19th. This represents a $3.16 annualized dividend and a yield of 2.6%. Owens Corning’s payout ratio is -39.21%.

About Owens Corning

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.