Owens Corning Inc (NYSE:OC) Receives Consensus Rating of “Moderate Buy” from Analysts

Owens Corning Inc (NYSE:OC) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $165.3077.

A number of analysts recently issued reports on OC shares. Wall Street Zen raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays upped their price target on shares of Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. DA Davidson initiated coverage on shares of Owens Corning in a research report on Monday, August 24th. They set a “buy” rating and a $190.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada upped their target price on shares of Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the transaction, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in Owens Corning by 178.2% during the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock worth $20,888,000 after acquiring an additional 119,566 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Owens Corning in the first quarter valued at approximately $2,576,000. Tiptree Advisors LLC acquired a new position in shares of Owens Corning during the 2nd quarter worth approximately $11,445,000. Raiffeisen Bank International AG raised its stake in shares of Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after purchasing an additional 38,885 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Owens Corning by 10.8% during the 4th quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after purchasing an additional 23,873 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Up 3.1%

Shares of Owens Corning stock opened at $138.88 on Friday. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.91. The business has a 50-day moving average of $145.67 and a two-hundred day moving average of $127.83. The company has a market capitalization of $10.98 billion, a P/E ratio of -17.23, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted $4.21 earnings per share. Owens Corning’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning will post 9.9 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Owens Corning’s payout ratio is -39.21%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.