Owens Corning Inc (NYSE:OC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Owens Corning Inc (NYSE:OC) have received an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, ten have assigned a buy recommendation and one has given a strong 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 $150.5833.

Several equities analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Barclays lifted their price target on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Evercore cut their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research report on Thursday, December 4th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Vertical Research assumed coverage on Owens Corning in a report on Monday, October 20th. They set a “hold” rating for the company.

Institutional Investors Weigh In On Owens Corning

Several hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after purchasing an additional 184 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Owens Corning during the second quarter valued at $277,000. IFP Advisors Inc raised its position in Owens Corning by 76.0% during the second quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after buying an additional 199 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Owens Corning by 124.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,035 shares of the construction company’s stock valued at $830,000 after buying an additional 3,351 shares during the period. Finally, Mutual Advisors LLC purchased a new stake in Owens Corning in the 2nd quarter worth about $256,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 0.8%

Shares of OC stock opened at $134.16 on Tuesday. The stock has a 50-day simple moving average of $121.04 and a 200 day simple moving average of $128.38. The stock has a market capitalization of $11.03 billion, a P/E ratio of -23.45, a P/E/G ratio of 2.81 and a beta of 1.36. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $179.82. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, March 9th. Owens Corning’s dividend payout ratio (DPR) is presently -55.24%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.