Owens Corning Inc (NYSE:OC) – Analysts at SunTrust Banks lowered their Q3 2017 earnings estimates for Owens Corning in a research report issued to clients and investors on Monday. SunTrust Banks analyst K. Hughes now expects that the construction company will post earnings per share of $1.21 for the quarter, down from their prior forecast of $1.25. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Owens Corning’s Q4 2017 earnings at $0.91 EPS, Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $1.46 EPS, Q3 2018 earnings at $1.42 EPS, Q4 2018 earnings at $1.03 EPS and FY2018 earnings at $4.73 EPS.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year.

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A number of other research analysts have also weighed in on OC. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Owens Corning in a report on Tuesday. Citigroup Inc. reaffirmed a “sell” rating and set a $69.00 price objective (up previously from $49.00) on shares of Owens Corning in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Owens Corning in a report on Thursday, July 27th. Finally, BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.47.

Shares of Owens Corning (NYSE:OC) opened at 79.10 on Tuesday. The company has a 50-day moving average of $73.65 and a 200-day moving average of $66.22. The firm has a market cap of $8.80 billion, a PE ratio of 22.72 and a beta of 1.05. Owens Corning has a 1-year low of $46.45 and a 1-year high of $79.42.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.01%. Owens Corning’s dividend payout ratio (DPR) is 23.05%.

In other news, Chairman Michael H. Thaman sold 130,700 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $74.95, for a total value of $9,795,965.00. Following the transaction, the chairman now directly owns 847,992 shares in the company, valued at approximately $63,557,000.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,866 shares of company stock worth $15,644,970. Company insiders own 1.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of OC. Creative Planning grew its stake in shares of Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after buying an additional 1,043 shares in the last quarter. Point72 Asia Hong Kong Ltd grew its stake in shares of Owens Corning by 457.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock valued at $141,000 after buying an additional 1,888 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Owens Corning by 11.1% in the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock valued at $198,000 after buying an additional 296 shares in the last quarter. First Bank & Trust grew its stake in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after buying an additional 104 shares in the last quarter. Finally, Cadence Capital Management LLC acquired a new stake in shares of Owens Corning in the first quarter valued at about $214,000. Institutional investors and hedge funds own 96.84% of the company’s stock.

About Owens Corning

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.

Earnings History and Estimates for Owens Corning (NYSE:OC)

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