Owens Corning (NYSE:OC) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Owens Corning (NYSE:OC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $187.77.

Several research firms have recently issued reports on OC. Royal Bank of Canada boosted their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Evercore ISI increased their target price on Owens Corning from $175.00 to $189.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Owens Corning from $165.00 to $175.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research note on Thursday, October 24th. Finally, UBS Group lifted their target price on Owens Corning from $192.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 7th.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,051 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred 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 sale, the insider now directly owns 60,130 shares of the company's stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

Hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. grew its stake in shares of Owens Corning by 10.1% in the third quarter. QRG Capital Management Inc. now owns 18,791 shares of the construction company's stock worth $3,317,000 after acquiring an additional 1,724 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Owens Corning by 0.8% in the third quarter. Asset Management One Co. Ltd. now owns 36,477 shares of the construction company's stock worth $6,439,000 after buying an additional 290 shares during the last quarter. National Pension Service grew its holdings in shares of Owens Corning by 52.1% during the third quarter. National Pension Service now owns 218,216 shares of the construction company's stock valued at $38,519,000 after buying an additional 74,703 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Owens Corning by 6.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 367,734 shares of the construction company's stock valued at $64,912,000 after acquiring an additional 23,316 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Owens Corning by 6.9% in the 3rd quarter. Van ECK Associates Corp now owns 39,318 shares of the construction company's stock valued at $7,129,000 after acquiring an additional 2,530 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

Shares of OC traded up $1.54 on Wednesday, reaching $182.50. 257,223 shares of the company's stock traded hands, compared to its average volume of 676,800. The stock's 50 day simple moving average is $173.33 and its two-hundred day simple moving average is $172.65. The stock has a market cap of $15.87 billion, a PE ratio of 15.34, a PEG ratio of 2.23 and a beta of 1.41. Owens Corning has a 52-week low of $112.32 and a 52-week high of $191.44. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.22 earnings per share. On average, analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning's dividend payout ratio (DPR) is presently 20.32%.

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.