Owens Corning (NYSE:OC) Receives $162.14 Consensus PT from Brokerages

Owens Corning (NYSE:OC) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $162.14.

A number of analysts have recently commented on OC shares. Evercore ISI cut Owens Corning from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Truist Financial upped their target price on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. UBS Group lowered their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Finally, Loop Capital lifted their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st.

Owens Corning Price Performance

OC opened at $160.16 on Friday. The company has a fifty day moving average price of $157.70 and a two-hundred day moving average price of $145.13. The firm has a market capitalization of $13.94 billion, a PE ratio of 12.21, a P/E/G ratio of 0.28 and a beta of 1.47. Owens Corning has a 52 week low of $98.02 and a 52 week high of $173.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.39. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 earnings per share. As a group, analysts anticipate that Owens Corning will post 13.77 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued 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 yield of 1.50%. Owens Corning’s payout ratio is 18.29%.

Insider Buying and Selling at Owens Corning

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 transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 over the last quarter. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently modified their holdings of OC. MV Capital Management Inc. grew its stake in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Owens Corning during the first quarter worth approximately $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning in the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Owens Corning during the fourth quarter worth approximately $27,000. Finally, Riverview Trust Co acquired a new stake in Owens Corning during the 1st quarter worth approximately $28,000. 88.40% of the stock is owned by institutional investors.

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.