Owens Corning (NYSE:OC) Short Interest Update

Owens Corning (NYSE:OC) was the target of a significant growth in short interest during 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. Based on an average daily trading volume, of 999,900 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.5% of the shares of the company are sold short.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’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 approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

Several hedge funds have recently modified their holdings of the company. 111 Capital bought a new stake in Owens Corning during the 4th quarter worth approximately $1,092,000. Wealth Enhancement Advisory Services LLC boosted its stake in Owens Corning by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,162 shares of the construction company’s stock worth $1,220,000 after purchasing an additional 369 shares in the last quarter. Menard Financial Group LLC grew its holdings in shares of Owens Corning by 3.6% during the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock worth $387,000 after purchasing an additional 80 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Owens Corning in the fourth quarter valued at $25,218,000. Finally, Polar Asset Management Partners Inc. raised its holdings in shares of Owens Corning by 76.7% in the fourth quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock valued at $3,492,000 after buying an additional 8,900 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 2.2 %

OC stock opened at $147.20 on Thursday. 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 $12.59 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The business’s 50 day moving average is $162.15 and its 200-day moving average is $175.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating 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 firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

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

Wall Street Analyst Weigh In

OC has been the subject of a number of research analyst reports. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a research note on Tuesday. They set a “buy” rating and a $183.00 target price for the company. Loop Capital decreased their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup cut their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.42.

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.