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

Owens Corning (NYSE:OC) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $140.92.

Several brokerages recently commented on OC. JPMorgan Chase & Co. raised shares of Owens Corning from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $133.00 in a research report on Friday, July 28th. Jefferies Financial Group increased their price objective on shares of Owens Corning from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Truist Financial raised their price target on shares of Owens Corning from $105.00 to $135.00 in a report on Thursday, July 6th. StockNews.com downgraded shares of Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Royal Bank of Canada raised shares of Owens Corning from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $135.00 to $168.00 in a report on Thursday, July 27th.

Owens Corning Stock Up 1.2 %

Shares of Owens Corning stock opened at $143.98 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 1.37. The company has a 50-day moving average of $135.20 and a 200 day moving average of $114.35. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.29 and a beta of 1.48. Owens Corning has a 1 year low of $74.22 and a 1 year high of $144.47.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $4.22 EPS for the quarter, beating the consensus estimate of $3.25 by $0.97. Owens Corning had a net margin of 13.62% and a return on equity of 25.59%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm posted $3.83 EPS. Owens Corning’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens Corning will post 13.59 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Investors of record on Monday, July 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, July 14th. Owens Corning’s payout ratio is 14.74%.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 6,900 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $115.01, for a total transaction of $793,569.00. Following the sale, the insider now owns 31,153 shares in the company, valued at approximately $3,582,906.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Owens Corning news, insider Gunner Smith sold 6,900 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $115.01, for a total transaction of $793,569.00. Following the sale, the insider now owns 31,153 shares in the company, valued at approximately $3,582,906.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director W Howard Morris sold 1,033 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $141.63, for a total transaction of $146,303.79. Following the sale, the director now owns 40,889 shares in the company, valued at approximately $5,791,109.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,308 shares of company stock valued at $1,672,109. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in shares of Owens Corning by 3.7% during the third quarter. State Street Corp now owns 4,301,672 shares of the construction company’s stock valued at $338,154,000 after buying an additional 155,155 shares during the last quarter. Davis Selected Advisers raised its position in shares of Owens Corning by 7.0% during the fourth quarter. Davis Selected Advisers now owns 3,608,040 shares of the construction company’s stock valued at $307,766,000 after buying an additional 234,900 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Owens Corning by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 3,345,967 shares of the construction company’s stock valued at $291,106,000 after buying an additional 210,192 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Owens Corning by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,406,960 shares of the construction company’s stock valued at $230,575,000 after buying an additional 37,793 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Owens Corning by 6.3% during the second quarter. LSV Asset Management now owns 2,236,846 shares of the construction company’s stock valued at $291,908,000 after buying an additional 131,951 shares during the last quarter. Institutional investors own 90.22% of the company’s stock.

Owens Corning Company Profile

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.