Owens Corning (NYSE:OC) Downgraded by StockNews.com

StockNews.com downgraded shares of Owens Corning (NYSE:OC) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other equities analysts have also issued reports on OC. Benchmark reiterated a hold rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays lowered their target price on Owens Corning from $190.00 to $189.00 and set an equal weight rating for the company in a research note on Friday, July 12th. Evercore ISI reduced their price target on shares of Owens Corning from $188.00 to $175.00 and set an in-line rating on the stock in a research note on Wednesday, August 7th. Citigroup raised shares of Owens Corning from a neutral rating to a buy rating and lifted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, Royal Bank of Canada increased their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of Hold and a consensus price target of $184.23.

Owens Corning Stock Down 0.0 %

OC stock opened at $172.47 on Tuesday. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The business has a 50-day simple moving average of $167.28 and a 200 day simple moving average of $170.45. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The company has a market cap of $14.95 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 3.47 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.22 EPS. Sell-side analysts anticipate that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is presently 19.43%.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

A number of institutional investors have recently bought and sold shares of OC. MV Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 79 shares during the period. NBC Securities Inc. acquired a new position in Owens Corning in the first quarter valued at approximately $26,000. ST Germain D J Co. Inc. boosted its holdings in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Owens Corning during the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at $31,000. Institutional investors own 88.40% of the company’s stock.

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.