Owens Corning (NYSE:OC) Reaches New 52-Week Low - What's Next?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OC shares. Wells Fargo & Company reduced their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Barclays decreased their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and a consensus price target of $204.18.

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Owens Corning Trading Up 0.8 %

The firm has a market cap of $12.03 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The business's 50 day moving average is $171.71 and its 200-day moving average is $177.99. 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 - Get Free Report) last released its quarterly earnings data 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. The business's revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts forecast that Owens Corning will post 15.49 earnings per share 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. Investors of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, March 10th. Owens Corning's payout ratio is currently 37.70%.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company's 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 completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % 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 insiders.

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its position in Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock worth $738,104,000 after buying an additional 187,001 shares during the period. Nordea Investment Management AB boosted its stake in Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after purchasing an additional 261,564 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock worth $242,337,000 after buying an additional 414,770 shares in the last quarter. Finally, Norges Bank bought a new position in Owens Corning in the 4th quarter valued at $208,519,000. 88.40% of the stock is currently owned by 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.