Owens Corning (NYSE:OC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Owens Corning (NYSE:OC) have been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $204.18.

Several research analysts recently issued reports on OC shares. UBS Group cut their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company decreased their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reduced their target price on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Finally, Barclays lowered their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th.

Owens Corning Stock Performance

Owens Corning stock opened at $139.91 on Tuesday. The firm’s 50 day simple moving average is $172.32 and its 200 day simple moving average is $178.21. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The firm has a market capitalization of $11.97 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $3.21 EPS. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.97%. Owens Corning’s payout ratio is currently 37.70%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several large investors have recently bought and sold shares of the business. Truist Financial Corp boosted its holdings in shares of Owens Corning by 4.0% during the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after acquiring an additional 624 shares during the last quarter. Alpha DNA Investment Management LLC boosted its holdings in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after purchasing an additional 2,544 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after purchasing an additional 200 shares during the last quarter. Penserra Capital Management LLC grew its position in Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after purchasing an additional 1,643 shares during the period. Finally, Atria Investments Inc raised its stake in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after buying an additional 6,373 shares during the last quarter. 88.40% of the stock is currently 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.