Owens Corning (NYSE:OC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Owens Corning (NYSE:OC) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $187.77.

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI increased their target price 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. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Barclays cut their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, November 1st.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated 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 directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its stake in Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. Nordea Investment Management AB lifted its stake in Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after purchasing an additional 533,910 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after purchasing an additional 464,981 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Owens Corning by 6.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after buying an additional 43,180 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Owens Corning by 2.2% in the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after buying an additional 12,707 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $182.57 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 1-year low of $120.17 and a 1-year high of $191.44. The stock has a market capitalization of $15.87 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.21 and a beta of 1.41. The business has a 50-day moving average price of $174.29 and a two-hundred day moving average price of $173.12.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping 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 the consensus estimate of $2.92 billion. During the same period in the previous year, the firm posted $4.22 earnings per share. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.32%.

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.