Owens Corning (OC) Scheduled to Post Quarterly Earnings on Wednesday

Owens Corning (NYSE:OC) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $3.03 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.39. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.49 earnings per share. On average, analysts expect Owens Corning to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Owens Corning Trading Down 0.2 %

Shares of Owens Corning stock opened at $163.54 on Wednesday. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.29 and a beta of 1.47. The business has a 50-day moving average price of $157.35 and a 200-day moving average price of $144.72. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. Owens Corning has a twelve month low of $98.00 and a twelve month high of $173.65.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.47%. Owens Corning’s payout ratio is 18.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on OC shares. UBS Group lowered their price target on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Citigroup increased their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Truist Financial increased their price target on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Finally, Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $162.14.

Insiders Place Their Bets

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

Several large investors have recently bought and sold shares of OC. US Bancorp DE grew its stake in Owens Corning by 4.0% during the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company’s stock valued at $595,000 after acquiring an additional 249 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Owens Corning by 9.3% in the 1st quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company’s stock valued at $238,000 after purchasing an additional 221 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in Owens Corning by 24.9% in the 1st quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company’s stock valued at $1,237,000 after purchasing an additional 2,693 shares during the last quarter. Bank of Montreal Can boosted its holdings in Owens Corning by 10.8% in the 1st quarter. Bank of Montreal Can now owns 19,987 shares of the construction company’s stock valued at $1,888,000 after purchasing an additional 1,952 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Owens Corning by 245.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company’s stock valued at $333,000 after purchasing an additional 2,592 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.