Owens Corning (NYSE:OC) Rating Increased to Buy at StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Evercore ISI increased their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a report on Thursday. Wells Fargo & Company upped their target price on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Thursday. Barclays reduced their price target on Owens Corning from $190.00 to $189.00 and set an "equal weight" rating for the company in a research report on Friday, July 12th. UBS Group upped their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $192.62.

Owens Corning Stock Up 1.6 %

NYSE:OC traded up $3.02 during midday trading on Friday, reaching $190.44. 796,320 shares of the stock traded hands, compared to its average volume of 697,772. The stock has a market capitalization of $16.56 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. Owens Corning has a 12-month low of $121.08 and a 12-month high of $193.93. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The business has a 50-day moving average of $175.83 and a two-hundred day moving average of $173.68.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company posted $4.15 EPS. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.26%. Owens Corning's payout ratio is 20.43%.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company's stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the 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 transaction, the insider now directly owns 60,130 shares of the company's stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its stake in Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock worth $276,655,000 after purchasing an additional 446,073 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock worth $128,772,000 after buying an additional 464,981 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Owens Corning by 6.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company's stock worth $124,506,000 after buying an additional 43,180 shares during the period. AustralianSuper Pty Ltd raised its holdings in Owens Corning by 2.2% in the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company's stock valued at $102,665,000 after acquiring an additional 12,707 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Owens Corning by 54.1% in the third quarter. Victory Capital Management Inc. now owns 523,001 shares of the construction company's stock worth $92,320,000 after acquiring an additional 183,666 shares during the last quarter. Institutional investors and hedge funds 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.