Owens Corning (NYSE:OC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Owens Corning (NYSE:OC) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $202.42.

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research report on Tuesday. They issued a “buy” rating and a $183.00 target price for the company.

Owens Corning Stock Performance

Shares of OC opened at $134.17 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm has a market cap of $11.48 billion, a PE ratio of 11.42, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $126.15 and a 12 month high of $214.53. The stock has a fifty day moving average price of $160.07 and a 200-day moving average price of $175.41.

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

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were 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 $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens Corning

A number of large investors have recently made changes to their positions in OC. Stratos Wealth Partners LTD. raised its position in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after buying an additional 56 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock worth $305,000 after buying an additional 57 shares during the period. Retirement Guys Formula LLC grew its holdings in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after buying an additional 60 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

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.