Owens Corning (NYSE:OC) Now Covered by Analysts at Vertical Research

Vertical Research initiated coverage on shares of Owens Corning (NYSE:OC) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued a hold rating on the construction company’s stock.

Other analysts have also issued reports about the company. Royal Bank Of Canada dropped their price objective on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Evercore ISI dropped their price target on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Truist Financial cut their price target on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a report on Thursday, October 9th. Jefferies Financial Group reduced their price objective on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Zacks Research lowered shares of Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Owens Corning Stock Up 0.4%

OC stock opened at $127.50 on Monday. Owens Corning has a one year low of $123.23 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The firm’s fifty day moving average is $144.55 and its 200 day moving average is $141.25. The firm has a market cap of $10.66 billion, a PE ratio of 33.12, a P/E/G ratio of 9.22 and a beta of 1.32.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the company posted $4.64 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is currently 71.69%.

Institutional Trading of Owens Corning

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Owens Corning by 25.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 180,297 shares of the construction company’s stock valued at $25,476,000 after acquiring an additional 36,933 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Owens Corning by 6.0% in the third quarter. Merit Financial Group LLC now owns 5,823 shares of the construction company’s stock valued at $824,000 after purchasing an additional 332 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Owens Corning by 7.7% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 422,985 shares of the construction company’s stock valued at $59,835,000 after purchasing an additional 30,100 shares during the last quarter. waypoint wealth counsel acquired a new stake in shares of Owens Corning in the third quarter valued at approximately $240,000. Finally, Ethic Inc. boosted its stake in Owens Corning by 70.9% during the third quarter. Ethic Inc. now owns 8,109 shares of the construction company’s stock worth $1,147,000 after buying an additional 3,365 shares during the last quarter. Hedge funds and other institutional investors 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.