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

Owens Corning (NYSE:OC) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $201.75.

OC has been the topic of several analyst reports. Citigroup reduced their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI increased their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Owens Corning Stock Performance

NYSE:OC opened at $183.66 on Friday. The stock’s 50-day moving average is $182.54 and its 200-day moving average is $178.73. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The stock has a market cap of $15.75 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. 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 (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business posted $4.15 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.50%. Owens Corning’s payout ratio is 23.49%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Owens Corning in the 4th quarter valued at $51,220,000. Arizona State Retirement System raised its position in Owens Corning by 1.7% in the 4th quarter. Arizona State Retirement System now owns 25,254 shares of the construction company’s stock valued at $4,301,000 after buying an additional 426 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Owens Corning in the 4th quarter valued at $665,000. Proficio Capital Partners LLC purchased a new stake in Owens Corning in the 4th quarter valued at $22,831,000. Finally, M&T Bank Corp raised its position in Owens Corning by 96.9% in the 4th quarter. M&T Bank Corp now owns 9,030 shares of the construction company’s stock valued at $1,538,000 after buying an additional 4,443 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.