Owens Corning (OC) Given Consensus Rating of “Buy” by Analysts
Owens Corning (NYSE:OC) has received an average recommendation of “Buy” from the twenty-four analysts that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $84.60.
Several equities analysts recently issued reports on the stock. KeyCorp reissued a “buy” rating and set a $115.00 price target on shares of Owens Corning in a report on Friday, January 12th. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Thursday. Zelman & Associates downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Seaport Global Securities lifted their price target on shares of Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Argus assumed coverage on shares of Owens Corning in a report on Wednesday, December 6th. They set a “buy” rating and a $109.00 price target for the company.
Shares of Owens Corning (NYSE OC) traded up $0.41 during trading on Friday, hitting $96.03. 518,319 shares of the stock traded hands, compared to its average volume of 884,272. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66. Owens Corning has a 1-year low of $53.04 and a 1-year high of $96.40. The firm has a market cap of $10,680.00, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.17 and a beta of 1.09.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 29th. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.87%. Owens Corning’s payout ratio is currently 25.07%.
In related news, Director W Howard Morris sold 2,026 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.95, for a total transaction of $166,030.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael H. Thaman sold 101,600 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the sale, the chairman now directly owns 840,370 shares of the company’s stock, valued at $71,708,772.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,933 shares of company stock valued at $11,196,722. Insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Grove Bank & Trust raised its stake in shares of Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after buying an additional 1,110 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Owens Corning during the third quarter worth approximately $202,000. Worth Venture Partners LLC bought a new stake in shares of Owens Corning during the third quarter worth approximately $213,000. Advisors Asset Management Inc. raised its stake in shares of Owens Corning by 214.4% during the third quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock worth $214,000 after buying an additional 1,885 shares during the last quarter. Finally, Csenge Advisory Group bought a new stake in shares of Owens Corning during the third quarter worth approximately $245,000. 94.55% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/19/owens-corning-oc-given-consensus-rating-of-buy-by-analysts-2.html.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.