Owens Corning (NYSE:OC) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Owens Corning (NYSE:OC) from a hold rating to a buy rating in a research report released on Saturday.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada increased their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Stock Down 1.4 %

Shares of OC opened at $190.67 on Friday. The firm has a fifty day moving average price of $176.94 and a 200-day moving average price of $174.09. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $16.36 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.35 and a beta of 1.41. Owens Corning has a 12-month low of $123.10 and a 12-month high of $197.52.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the firm earned $4.15 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.26%. Owens Corning’s dividend payout ratio (DPR) is 20.43%.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 completion of the sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently bought and sold shares of the business. Retirement Guys Formula LLC boosted its stake in shares of Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after buying an additional 58 shares during the last quarter. PFG Investments LLC boosted its position in Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares in the last quarter. Tobam boosted its position in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust increased its holdings in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.