Owens Corning (NYSE:OC) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Owens Corning Inc (NYSE:OC)’s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $123.82 and traded as high as $127.42. Owens Corning shares last traded at $125.3930, with a volume of 1,307,718 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Monday, September 21st. Evercore set a $185.00 target price on Owens Corning in a research report on Thursday, October 1st. DA Davidson set a $143.00 price target on Owens Corning in a report on Friday, October 9th. Finally, Truist Financial lowered their price target on Owens Corning from $140.00 to $115.00 and set a “hold” rating for the company in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.07.

Owens Corning Price Performance

The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The company has a 50-day simple moving average of $123.82 and a two-hundred day simple moving average of $126.15. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.42 and a beta of 1.32.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business posted $4.21 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning Inc will post 9.39 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, October 19th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, October 19th. Owens Corning’s dividend payout ratio (DPR) is -39.21%.

Insiders Place Their Bets

In related news, insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $144.07, for a total value of $129,663.00. Following the sale, the insider directly owned 21,449 shares in the company, valued at $3,090,157.43. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Several large investors have recently made changes to their positions in OC. BlackRock Inc. bought a new stake in Owens Corning during the second quarter worth approximately $1,401,161,000. Nykredit A S bought a new position in shares of Owens Corning in the second quarter valued at $166,083,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Owens Corning by 721.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock valued at $125,513,000 after buying an additional 1,027,800 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Owens Corning during the 2nd quarter valued at $133,685,000. Finally, Sound Shore Management Inc. CT acquired a new stake in shares of Owens Corning during the 1st quarter valued at $64,102,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Company Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.