Owens Corning (NYSE:OC) Short Interest Update

Owens Corning (NYSE:OC) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,250,000 shares, a growth of 23.8% from the February 28th total of 1,010,000 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 999,900 shares, the days-to-cover ratio is currently 1.3 days.

Owens Corning Stock Performance

Shares of OC opened at $147.20 on Thursday. The company has a market capitalization of $12.59 billion, a PE ratio of 12.53, a PEG ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company’s 50 day moving average price is $162.15 and its 200 day moving average price is $175.91. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53.

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

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analysts Forecast Growth

OC has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research report on Tuesday. They set a “buy” rating and a $183.00 price objective for the company. Barclays decreased their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $202.42.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several large investors have recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB boosted its holdings in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning during the 4th quarter valued at about $34,000. Institutional investors own 88.40% of the company’s stock.

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.