Owens Corning (NYSE:OC) Hits New 1-Year High at $178.24

Owens Corning (NYSE:OC) shares hit a new 52-week high on Friday . The company traded as high as $178.24 and last traded at $176.40, with a volume of 95478 shares trading hands. The stock had previously closed at $173.14.

Wall Street Analysts Forecast Growth

OC has been the topic of several research analyst reports. Loop Capital increased their price target on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. UBS Group increased their target price on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada boosted their price target on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Citigroup increased their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

Owens Corning Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The company’s 50-day moving average price is $162.66 and its 200 day moving average price is $147.85. The stock has a market capitalization of $15.15 billion, a P/E ratio of 14.15, a P/E/G ratio of 5.19 and a beta of 1.45.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $2.77 earnings per share. As a group, equities analysts expect that Owens Corning will post 15.37 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Gunner Smith sold 657 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the completion of the transaction, the insider now directly owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,864 shares of company stock valued at $1,819,471. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Owens Corning by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock worth $1,205,000 after acquiring an additional 67 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Owens Corning by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC increased its position in shares of Owens Corning by 7.5% during the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares during the last quarter. Blue Trust Inc. raised its holdings in Owens Corning by 42.2% during the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after buying an additional 78 shares during the period. Finally, Caprock Group LLC lifted its position in Owens Corning by 3.7% in the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after buying an additional 79 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.