Owens Corning (NYSE:OC) Receives Average Rating of "Moderate Buy" from Analysts

Owens Corning (NYSE:OC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $200.83.

OC has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Wells Fargo & Company raised Owens Corning from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $195.00 to $225.00 in a research report on Tuesday. The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price target on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th.

Owens Corning Price Performance

NYSE OC traded down $4.94 during trading on Thursday, hitting $169.50. 1,192,595 shares of the company's stock were exchanged, compared to its average volume of 701,155. The stock's 50 day moving average price is $191.15 and its two-hundred day moving average price is $177.96. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a market cap of $14.54 billion, a PE ratio of 14.43, a P/E/G ratio of 2.14 and a beta of 1.42.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the prior year, the firm posted $4.15 earnings per share. The business's quarterly revenue was up 22.9% compared to the same quarter last year. Research analysts expect that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.63%. This is a boost from Owens Corning's previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. Owens Corning's dividend payout ratio is currently 23.49%.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently made changes to their positions in OC. Blue Trust Inc. lifted its position in Owens Corning by 46.2% during the second quarter. Blue Trust Inc. now owns 367 shares of the construction company's stock valued at $61,000 after purchasing an additional 116 shares during the period. Fifth Third Bancorp grew its stake in shares of Owens Corning by 43.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,321 shares of the construction company's stock worth $229,000 after purchasing an additional 400 shares during the period. Ceredex Value Advisors LLC increased its holdings in shares of Owens Corning by 0.3% during the 2nd quarter. Ceredex Value Advisors LLC now owns 198,625 shares of the construction company's stock valued at $34,505,000 after purchasing an additional 525 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Owens Corning in the 2nd quarter valued at $2,690,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Owens Corning during the second quarter worth $251,000. 88.40% of the stock is owned by hedge funds and other 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.