Owens Corning (NYSE:OC) Posts Earnings Results

Owens Corning (NYSE:OC) released its earnings results on Wednesday. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55, Briefing.com reports. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.77 EPS.

Owens Corning Stock Performance

NYSE OC traded down $0.67 on Thursday, reaching $164.55. The stock had a trading volume of 171,071 shares, compared to its average volume of 667,316. 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 stock has a market cap of $14.32 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 7.08 and a beta of 1.47. The business’s 50-day moving average price is $158.41 and its 200 day moving average price is $145.80. Owens Corning has a 12-month low of $98.02 and a 12-month high of $173.65.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.46%. Owens Corning’s dividend payout ratio is currently 18.29%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 708 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the transaction, the insider now directly owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Owens Corning news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the sale, the insider now owns 39,994 shares of the company’s stock, valued at $6,148,277.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,672 shares of company stock worth $3,325,799. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

OC has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Evercore ISI boosted their target price on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Truist Financial increased their price target on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Owens Corning Company Profile

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.