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

Owens Corning (NYSE:OC) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $201.75.

OC has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, UBS Group upped their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens Corning

Several institutional investors have recently bought and sold shares of the stock. Global Trust Asset Management LLC bought a new position in shares of Owens Corning during the 4th quarter valued at about $31,000. Brooklyn Investment Group acquired a new stake in shares of Owens Corning during the third quarter worth approximately $38,000. Quarry LP grew its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares in the last quarter. Tobam grew its stake in Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 2.0 %

NYSE OC opened at $182.86 on Monday. The firm’s fifty day moving average is $186.08 and its two-hundred day moving average is $177.42. 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 firm has a market cap of $15.69 billion, a PE ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. Owens Corning has a one year low of $138.70 and a one year high of $214.53.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business earned $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were issued a $0.69 dividend. The ex-dividend date was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

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.