Owens Corning (NYSE:OC) Hits New 1-Year Low – Time to Sell?

Owens Corning (NYSE:OC)’s stock price reached a new 52-week low on Monday . The company traded as low as $139.44 and last traded at $140.66, with a volume of 303835 shares trading hands. The stock had previously closed at $143.89.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OC shares. Barclays lowered their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Loop Capital cut their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, UBS Group lowered their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Stock Performance

The business has a 50 day moving average price of $172.91 and a two-hundred day moving average price of $178.38. The stock has a market cap of $11.80 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.21 earnings per share. On average, sell-side analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the firm’s 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 completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently made changes to their positions in OC. Menard Financial Group LLC lifted its stake in Owens Corning by 3.6% in the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock worth $387,000 after purchasing an additional 80 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $25,218,000. Polar Asset Management Partners Inc. boosted its holdings in Owens Corning by 76.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock valued at $3,492,000 after acquiring an additional 8,900 shares during the period. Toronto Dominion Bank increased its stake in Owens Corning by 6.2% in the fourth quarter. Toronto Dominion Bank now owns 11,702 shares of the construction company’s stock worth $1,993,000 after purchasing an additional 679 shares during the period. Finally, Vise Technologies Inc. lifted its position in shares of Owens Corning by 96.6% during the fourth quarter. Vise Technologies Inc. now owns 2,434 shares of the construction company’s stock worth $415,000 after purchasing an additional 1,196 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other 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.