Owens Corning (NYSE:OC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Owens Corning (NYSE:OC) from a hold rating to a buy rating in a research report released on Saturday.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada upped their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Barclays reduced their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. UBS Group upped their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Stock Performance

Owens Corning stock traded up $3.02 during trading hours on Friday, reaching $190.44. 796,320 shares of the stock were exchanged, compared to its average volume of 697,772. The stock has a market cap of $16.56 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.27 and a beta of 1.41. The firm’s 50 day moving average is $175.83 and its 200 day moving average is $173.68. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. Owens Corning has a 52-week low of $121.08 and a 52-week high of $193.93.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm earned $4.15 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year. Analysts predict that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Trading of Owens Corning

A number of hedge funds have recently added to or reduced their stakes in OC. ST Germain D J Co. Inc. boosted its holdings in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Innealta Capital LLC acquired a new position in Owens Corning in the second quarter valued at $32,000. Tobam grew its position in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Quarry LP increased its stake in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Owens Corning during the second quarter worth about $48,000. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.