Owens Corning (NYSE:OC) Lowered to "Hold" Rating by StockNews.com

StockNews.com cut shares of Owens Corning (NYSE:OC - Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

OC has been the topic of a number of other reports. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Wells Fargo & Company lowered their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday. 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $207.00.

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Owens Corning Stock Performance

Shares of NYSE:OC traded up $1.90 during midday trading on Tuesday, reaching $153.96. 1,308,555 shares of the company's stock traded hands, compared to its average volume of 833,903. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a one year low of $148.78 and a one year high of $214.53. The stock has a 50 day moving average of $175.41 and a 200 day moving average of $178.64.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.21 earnings per share. As a group, equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is currently 37.70%.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated 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 sale, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Hedge Funds Weigh In On Owens Corning

Institutional investors have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

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.