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

Shares of Owens Corning Inc (NYSE:OC) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $157.50.

Several equities research analysts recently issued reports on OC shares. Bank of America dropped their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company increased their target price on Owens Corning from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th.

Owens Corning Stock Down 0.4%

Shares of NYSE OC opened at $139.98 on Friday. The stock has a fifty day moving average price of $129.90 and a 200 day moving average price of $122.88. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a market cap of $11.27 billion, a P/E ratio of -21.18, a P/E/G ratio of 2.73 and a beta of 1.30.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 9.55 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s dividend payout ratio is -47.81%.

Insider Activity

In related news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This represents a 38.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Owens Corning

Institutional investors and hedge funds have recently bought and sold shares of the business. Banque Pictet & Cie SA lifted its holdings in shares of Owens Corning by 5.0% in the 4th quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock worth $46,172,000 after purchasing an additional 19,553 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Owens Corning by 178.2% during the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after acquiring an additional 119,566 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Owens Corning during the first quarter valued at $2,576,000. Raiffeisen Bank International AG grew its position in shares of Owens Corning by 12.4% during the fourth quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after acquiring an additional 38,885 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Owens Corning in the 3rd quarter worth about $5,889,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.