Owens Corning (NYSE:OC) Receives Average Rating of “Moderate Buy” from Brokerages

Owens Corning (NYSE:OC) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $204.18.

Several analysts have recently issued reports on OC shares. Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Finally, UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Owens Corning Price Performance

Shares of NYSE OC opened at $142.64 on Friday. 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’s 50-day simple moving average is $164.63 and its 200 day simple moving average is $176.15. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53.

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

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on 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 transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently made changes to their positions in OC. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC increased its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB boosted its position in shares of 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 purchased a new position in Owens Corning during the fourth quarter valued at approximately $34,000. 88.40% of the stock is owned by institutional investors.

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.