Owens Corning (NYSE:OC) Sets New 12-Month High at $170.55

Owens Corning (NYSE:OCGet Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $170.55 and last traded at $170.28, with a volume of 68422 shares trading hands. The stock had previously closed at $166.82.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Loop Capital upped their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI cut Owens Corning from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $163.00 to $154.00 in a research report on Thursday, February 15th. Royal Bank of Canada dropped their price objective on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price objective on Owens Corning from $130.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, December 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.64.

Check Out Our Latest Analysis on Owens Corning

Owens Corning Trading Up 2.2 %

The stock has a fifty day moving average of $154.19 and a 200-day moving average of $142.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The company has a market cap of $14.83 billion, a PE ratio of 12.72, a PEG ratio of 0.46 and a beta of 1.47.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the business posted $2.49 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Owens Corning will post 14.08 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is 18.29%.

Insider Buying and Selling

In related news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now owns 36,140 shares in the company, valued at $5,384,498.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders have sold a total of 21,672 shares of company stock valued at $3,325,799 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its position in Owens Corning by 97.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock worth $3,110,000 after buying an additional 11,241 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Owens Corning in the fourth quarter valued at $27,000. New York Life Investment Management LLC grew its stake in shares of Owens Corning by 101.7% in the third quarter. New York Life Investment Management LLC now owns 9,969 shares of the construction company’s stock valued at $1,360,000 after buying an additional 5,026 shares in the last quarter. Cambria Investment Management L.P. grew its stake in shares of Owens Corning by 7.5% in the third quarter. Cambria Investment Management L.P. now owns 84,448 shares of the construction company’s stock valued at $11,520,000 after buying an additional 5,877 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Owens Corning by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 41,121 shares of the construction company’s stock worth $5,366,000 after purchasing an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

(Get Free Report)

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.

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