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

Shares of Owens Corning (NYSE:OC) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $201.75.

OC has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpha DNA Investment Management LLC boosted its stake in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after buying an additional 200 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after buying an additional 1,643 shares in the last quarter. Atria Investments Inc boosted its stake in Owens Corning by 93.3% in the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Owens Corning in the third quarter worth approximately $1,046,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

OC opened at $178.20 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 2.01 and a beta of 1.46. The firm’s fifty day moving average price is $181.09 and its two-hundred day moving average price is $178.79. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

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.