Shares of Owens Corning (NYSE:OC) have been assigned an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the firm. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $55.29.
OC has been the topic of several research reports. Jefferies Group reaffirmed a “buy” rating on shares of Owens Corning in a report on Wednesday, July 6th. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 29th. Stifel Nicolaus raised their price target on Owens Corning from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. FBR & Co raised their price target on Owens Corning from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Finally, Wells Fargo & Co. initiated coverage on Owens Corning in a report on Thursday, September 29th. They set a “market perform” rating on the stock.
In related news, insider Arnaud Genis sold 66,619 shares of Owens Corning stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $54.68, for a total transaction of $3,642,726.92. Following the completion of the transaction, the insider now directly owns 101,538 shares in the company, valued at approximately $5,552,097.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael H. Thaman sold 150,000 shares of Owens Corning stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $53.19, for a total value of $7,978,500.00. Following the transaction, the chairman now owns 835,189 shares of the company’s stock, valued at $44,423,702.91. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of OC. Acrospire Investment Management LLC bought a new position in shares of Owens Corning during the first quarter valued at about $109,000. Tower Research Capital LLC TRC bought a new position in shares of Owens Corning during the second quarter valued at about $171,000. NN Investment Partners Holdings N.V. bought a new position in shares of Owens Corning during the first quarter valued at about $179,000. Societe Generale bought a new position in shares of Owens Corning during the second quarter valued at about $208,000. Finally, Ingalls & Snyder LLC bought a new position in shares of Owens Corning during the second quarter valued at about $224,000.
Owens Corning (NYSE:OC) opened at 51.55 on Monday. Owens Corning has a 12-month low of $38.96 and a 12-month high of $58.69. The company has a 50-day moving average price of $53.22 and a 200-day moving average price of $51.75. The firm has a market cap of $5.92 billion, a PE ratio of 14.55 and a beta of 1.41.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.43. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.46 billion. Owens Corning had a return on equity of 10.57% and a net margin of 7.52%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, equities analysts predict that Owens Corning will post $3.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. Owens Corning’s dividend payout ratio is currently 20.28%.
Owens Corning Company Profile
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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