Owens Corning (OC) Trading Down 0.7%
Shares of Owens Corning (NYSE:OC) traded down 0.7% during trading on Friday . The stock traded as low as $53.10 and last traded at $53.54, with a volume of 605,110 shares. The stock had previously closed at $53.93.
Several research firms recently issued reports on OC. Jefferies Group reiterated a “buy” rating on shares of Owens Corning in a report on Wednesday. Wedbush raised their price target on Owens Corning from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Investment Research upgraded 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. Zelman & Associates cut Owens Corning from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Finally, MKM Partners raised their price target on Owens Corning from $38.00 to $42.00 and gave the company a “sell” rating in a report on Thursday, April 28th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $51.75.
The firm’s 50-day moving average is $50.82 and its 200-day moving average is $47.34. The company has a market cap of $6.21 billion and a PE ratio of 17.14.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.19. The company earned $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned $0.19 earnings per share. Owens Corning’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post $3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 2nd. Stockholders of record on Monday, July 18th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%.
In other news, VP Kelly Schmidt sold 2,000 shares of the business’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the completion of the transaction, the vice president now owns 8,996 shares of the company’s stock, valued at approximately $449,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Other institutional investors have bought and sold shares of the company. Shell Asset Management Co. acquired a new position in Owens Corning during the fourth quarter worth approximately $1,106,000. Robeco Institutional Asset Management B.V. acquired a new position in Owens Corning during the fourth quarter worth approximately $1,792,000. Hodges Capital Management Inc. boosted its position in Owens Corning by 9.3% in the fourth quarter. Hodges Capital Management Inc. now owns 46,050 shares of the company’s stock worth $2,166,000 after buying an additional 3,900 shares during the period. First Trust Advisors LP boosted its position in Owens Corning by 19.9% in the fourth quarter. First Trust Advisors LP now owns 47,545 shares of the company’s stock worth $2,236,000 after buying an additional 7,907 shares during the period. Finally, D L Carlson Investment Group Inc. boosted its position in Owens Corning by 1.4% in the fourth quarter. D L Carlson Investment Group Inc. now owns 52,065 shares of the company’s stock worth $2,449,000 after buying an additional 725 shares during the period.
Owens Corning is a holding company. The Company is engaged in 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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