Owens Corning (NYSE:OC) Research Coverage Started at Melius Research

Melius Research initiated coverage on shares of Owens Corning (NYSE:OC) in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a sell rating and a $118.00 target price on the construction company’s stock.

A number of other equities analysts have also recently issued reports on OC. Zacks Research upgraded Owens Corning from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, September 21st. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Royal Bank Of Canada lifted their target price on Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Truist Financial set a $198.00 target price on Owens Corning in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.93.

Owens Corning Stock Up 2.3%

Shares of OC stock opened at $117.37 on Tuesday. The firm has a fifty day moving average of $135.84 and a 200-day moving average of $129.07. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. Owens Corning has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -14.56, a P/E/G ratio of 1.85 and a beta of 1.32.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $4.21 earnings per share. As a group, equities research analysts predict that Owens Corning will post 9.89 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be issued a $0.79 dividend. The ex-dividend date is Monday, October 19th. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. Owens Corning’s dividend payout ratio (DPR) is presently -39.21%.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the sale, the insider owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. HM Payson & Co. grew its stake in Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after purchasing an additional 112 shares in the last quarter. Fiduciary Financial Advisors bought a new stake in shares of Owens Corning during the 2nd quarter worth approximately $35,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at approximately $30,000. NBH Bank bought a new position in shares of Owens Corning in the second quarter valued at $47,000. Finally, Root Financial Partners LLC grew its stake in shares of Owens Corning by 212.7% in the first quarter. Root Financial Partners LLC now owns 419 shares of the construction company’s stock valued at $45,000 after buying an additional 285 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Owens Corning

Here are the key news stories impacting Owens Corning this week:

• Positive Sentiment: Relative strength: Owens Corning shares rose while the overall market declined, indicating buying interest and a possible rebound following the previous session’s pressure. Owens Corning Ascends While Market Falls: Some Facts to Note
• Neutral Sentiment: Investor attention remains elevated: Owens Corning has been among the most heavily searched stocks on Zacks, which may be supporting trading activity but does not itself change the company’s earnings outlook. Investors Heavily Search Owens Corning
• Negative Sentiment: Vertical Research downgraded OC from Hold to Sell and assigned a $106 price target, implying downside from the stock’s recent trading level. Vertical Research Downgrades Owens Corning
• Negative Sentiment: RBC Capital downgraded Owens Corning from Outperform to Sector Perform and cut its price target sharply, from $172 to $127. The move signals reduced expectations for outperformance, although the revised target remains above the recent share price. RBC Downgrades Owens Corning
• Negative Sentiment: The analyst downgrades triggered a sharp decline in Owens Corning shares in the prior session, reinforcing concerns about valuation, construction-sector demand, and the company’s near-term outlook. Owens Corning Shares Fall After Vertical Research Downgrade

About Owens Corning

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.