Owens Corning (NYSE:OC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Owens Corning (NYSE:OC) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $200.83.

A number of equities analysts recently issued reports on the stock. UBS Group increased their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $195.00 to $225.00 in a research note on Tuesday. Evercore ISI upped their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $192.00 to $245.00 in a report on Wednesday, December 11th.

Owens Corning Stock Performance

Shares of OC stock opened at $174.44 on Thursday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42. The business has a 50 day simple moving average of $191.28 and a 200 day simple moving average of $178.02.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.15 EPS. On average, equities research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.58%. Owens Corning’s dividend payout ratio is currently 23.49%.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently bought and sold shares of the stock. Alpha DNA Investment Management LLC raised its position in shares of Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares during the period. CWA Asset Management Group LLC bought a new position in Owens Corning in the 3rd quarter worth $1,046,000. Atria Investments Inc raised its holdings in Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after acquiring an additional 6,373 shares during the period. Sanctuary Advisors LLC acquired a new position in Owens Corning during the 2nd quarter worth $3,598,000. Finally, Retirement Systems of Alabama grew its position in shares of Owens Corning by 3.1% in the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock valued at $34,717,000 after purchasing an additional 5,916 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Company Profile

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.