Owens Corning Inc (OC) Given “Buy” Rating at Stifel Nicolaus
Stifel Nicolaus reaffirmed their buy rating on shares of Owens Corning Inc (NYSE:OC) in a report published on Friday morning. The brokerage currently has a $83.00 target price on the construction company’s stock.
A number of other equities research analysts have also recently commented on OC. Royal Bank Of Canada reiterated an outperform rating and set a $71.00 target price (up from $67.00) on shares of Owens Corning in a research note on Thursday, April 27th. Jefferies Group LLC reiterated a buy rating and set a $72.00 target price on shares of Owens Corning in a research note on Sunday, July 9th. BidaskClub cut Owens Corning from a hold rating to a sell rating in a research note on Thursday, July 27th. Wedbush upgraded Owens Corning from a neutral rating to an outperform rating and lifted their target price for the stock from $58.00 to $72.00 in a research note on Friday, March 31st. Finally, Instinet reiterated a buy rating and set a $74.00 target price on shares of Owens Corning in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $70.53.
Shares of Owens Corning (NYSE:OC) opened at 67.05 on Friday. The firm’s 50-day moving average is $65.98 and its 200 day moving average is $61.38. Owens Corning has a 52-week low of $46.45 and a 52-week high of $68.80. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.26 and a beta of 1.11.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.29 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Owens Corning will post $4.21 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s payout ratio is presently 23.05%.
In other Owens Corning news, Director James J. Mcmonagle sold 2,000 shares of Owens Corning stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total transaction of $129,200.00. Following the completion of the transaction, the director now owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arnaud Genis sold 21,544 shares of Owens Corning stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Bank & Trust raised its position in Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares during the last quarter. ARP Americas LLC bought a new position in Owens Corning during the second quarter worth $318,000. Smithfield Trust Co. raised its position in Owens Corning by 9.2% in the second quarter. Smithfield Trust Co. now owns 3,608 shares of the construction company’s stock worth $241,000 after buying an additional 304 shares during the last quarter. Sei Investments Co. raised its position in Owens Corning by 0.5% in the second quarter. Sei Investments Co. now owns 269,885 shares of the construction company’s stock worth $18,060,000 after buying an additional 1,431 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its position in Owens Corning by 7.1% in the second quarter. Ingalls & Snyder LLC now owns 4,550 shares of the construction company’s stock worth $304,000 after buying an additional 300 shares during the last quarter.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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