Owens Corning (NYSE:OC) Reaches New 52-Week Low - Here's Why

Shares of Owens Corning (NYSE:OC - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $134.26 and last traded at $134.76, with a volume of 114253 shares. The stock had previously closed at $147.19.

Analysts Set New Price Targets

Several brokerages recently issued reports on OC. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Wells Fargo & Company dropped their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Owens Corning has an average rating of "Moderate Buy" and an average price target of $199.42.

Owens Corning Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market capitalization of $10.79 billion, a P/E ratio of 10.73, a PEG ratio of 1.88 and a beta of 1.39. The firm has a 50 day simple moving average of $156.31 and a two-hundred day simple moving average of $174.44.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.19%. Owens Corning's dividend payout ratio (DPR) is currently 37.70%.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the 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 completion of the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning in the fourth quarter valued at $28,000. Venturi Wealth Management LLC boosted its stake in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB increased its stake in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after acquiring an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

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.