Owens Corning Inc (NYSE:OC) Given Consensus Rating of “Moderate Buy” by Analysts

Owens Corning Inc (NYSE:OC) has been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $150.5833.

A number of research firms have issued reports on OC. Vertical Research began coverage on shares of Owens Corning in a report on Monday, October 20th. They issued a “hold” rating on the stock. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Barclays increased their price target on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Citigroup reduced their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Argus upgraded Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Owens Corning during the 2nd quarter worth approximately $163,719,000. Arrowstreet Capital Limited Partnership raised its position in shares of Owens Corning by 460.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock valued at $146,940,000 after acquiring an additional 1,078,877 shares in the last quarter. Gendell Jeffrey L raised its position in shares of Owens Corning by 349.3% during the 4th quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after acquiring an additional 716,839 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Owens Corning by 33.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after purchasing an additional 645,773 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Owens Corning by 51.8% in the fourth quarter. First Trust Advisors LP now owns 1,775,411 shares of the construction company’s stock worth $198,686,000 after purchasing an additional 605,926 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Down 0.8%

Shares of OC opened at $134.16 on Tuesday. The company has a market capitalization of $11.03 billion, a PE ratio of -23.45, a price-to-earnings-growth ratio of 2.81 and a beta of 1.36. The stock has a fifty day moving average of $121.04 and a two-hundred day moving average of $128.38. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $179.82. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.4%. Owens Corning’s payout ratio is currently -55.24%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.