Owens Corning (NYSE:OC) Receives Average Rating of “Hold” from Analysts

Shares of Owens Corning (NYSE:OC) have earned a consensus rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $162.14.

Several equities research analysts have recently weighed in on OC shares. Evercore ISI lowered Owens Corning from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $163.00 to $154.00 in a research note on Thursday, February 15th. Loop Capital raised their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Truist Financial boosted 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. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, UBS Group reduced their target price on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th.

Insider Buying and Selling at Owens Corning

In other news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction that occurred on 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 owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gunner Smith sold 7,442 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the firm’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 transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Hedge funds have recently modified their holdings of the stock. NBC Securities Inc. acquired a new position in Owens Corning in the first quarter valued at about $26,000. Contravisory Investment Management Inc. acquired a new position in Owens Corning during the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning in the 4th quarter valued at about $27,000. Riverview Trust Co bought a new position in Owens Corning in the 1st quarter worth approximately $28,000. Finally, Financial Management Professionals Inc. bought a new position in Owens Corning in the third quarter valued at about $29,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Down 0.6 %

NYSE:OC opened at $165.54 on Friday. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.29 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The business has a fifty day moving average of $156.93 and a 200-day moving average of $144.23. Owens Corning has a 1 year low of $96.86 and a 1 year high of $173.65.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the business posted $2.49 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts predict that Owens Corning will post 13.77 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.45%. Owens Corning’s dividend payout ratio is 18.29%.

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.