Owens Corning (OC) Receives Consensus Rating of “Buy” from Brokerages

Owens Corning (NYSE:OC) has been assigned an average recommendation of “Buy” from the twenty-four research firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $85.35.

OC has been the topic of several research analyst reports. Royal Bank of Canada raised shares of Owens Corning from an “outperform” rating to a “top pick” rating in a report on Monday, December 4th. SunTrust Banks upped their price target on shares of Owens Corning from $66.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a report on Thursday, October 26th. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Wednesday, December 27th. Finally, Credit Suisse Group increased their target price on Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, November 17th.

Owens Corning (OC) traded up $0.50 during trading on Tuesday, hitting $85.72. 916,045 shares of the stock traded hands, compared to its average volume of 918,885. The company has a market capitalization of $9,430.00, a PE ratio of 25.59, a P/E/G ratio of 0.98 and a beta of 0.98. Owens Corning has a 52-week low of $56.92 and a 52-week high of $96.52. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.84 annualized dividend and a yield of 0.98%. Owens Corning’s payout ratio is 25.07%.

In other Owens Corning news, Chairman Michael H. Thaman sold 101,600 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the completion of the sale, the chairman now directly owns 840,370 shares in the company, valued at $71,708,772.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John David Williams sold 3,684 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $88.64, for a total transaction of $326,549.76. Following the sale, the director now owns 24,762 shares of the company’s stock, valued at $2,194,903.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,420 shares of company stock valued at $10,990,777. Company insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $119,000. Strs Ohio purchased a new stake in shares of Owens Corning during the fourth quarter worth about $129,000. Grove Bank & Trust boosted its holdings 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 purchasing an additional 1,110 shares during the period. Focused Wealth Management Inc purchased a new stake in shares of Owens Corning during the fourth quarter worth about $175,000. Finally, LS Investment Advisors LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $198,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

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Owens Corning Company Profile

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.

Analyst Recommendations for Owens Corning (NYSE:OC)

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