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

Shares of Owens Corning Inc (NYSE:OC) have earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $144.8182.

Several equities research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wells Fargo & Company upped their price objective on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Bank of America decreased their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Royal Bank Of Canada upped their price objective on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th.

Insider Buying and Selling

In related news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of OC. Geneos Wealth Management Inc. lifted its position in Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after acquiring an additional 184 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Owens Corning in the second quarter valued at about $277,000. EverSource Wealth Advisors LLC raised its stake in Owens Corning by 1,433.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock valued at $175,000 after buying an additional 1,190 shares during the last quarter. Cerity Partners LLC raised its stake in Owens Corning by 294.3% in the second quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock valued at $2,389,000 after buying an additional 12,966 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in Owens Corning by 12.2% in the second quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock valued at $421,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of OC opened at $128.12 on Monday. The company has a 50 day moving average price of $120.67 and a 200-day moving average price of $118.47. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $159.42. The stock has a market capitalization of $10.32 billion, a PE ratio of -19.38, a PEG ratio of 2.32 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. Equities analysts predict that Owens Corning will post 9.53 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. Owens Corning’s dividend payout ratio is presently -47.81%.

About Owens Corning

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.