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

Owens Corning (NYSE:OC) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $207.00.

Several analysts have recently weighed in on OC shares. Wells Fargo & Company dropped their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Barclays dropped their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday. Finally, Citigroup reduced 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 report on Monday, January 6th.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $148.23 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The business’s fifty day moving average price is $174.96 and its two-hundred day moving average price is $178.82. Owens Corning has a fifty-two week low of $147.78 and a fifty-two week high of $214.53. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

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

Owens Corning Announces Dividend

The firm also recently declared 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 1.86%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is 37.70%.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated 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 approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC raised its stake in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC bought a new position in Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its stake in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.