Owens Corning (NYSE:OC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Owens Corning (NYSE:OC) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $192.62.

OC has been the topic of a number of research reports. Wells Fargo & Company raised their target price 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. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Owens Corning Price Performance

Shares of NYSE:OC opened at $202.77 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. Owens Corning has a 12 month low of $131.61 and a 12 month high of $203.40. The firm has a market capitalization of $17.39 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.22 and a beta of 1.41. The company’s fifty day moving average price is $182.76 and its 200 day moving average price is $175.40.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.15 EPS. As a group, sell-side analysts predict that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after purchasing an additional 187,001 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after buying an additional 197,667 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Owens Corning by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after buying an additional 24,522 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.