Owens Corning (NYSE:OC) Sets New 12-Month High at $178.24

Owens Corning (NYSE:OC) shares hit a new 52-week high during trading on Friday . The company traded as high as $178.24 and last traded at $176.40, with a volume of 95478 shares trading hands. The stock had previously closed at $173.14.

Analysts Set New Price Targets

OC has been the subject of a number of recent research reports. Argus boosted their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $170.00 to $160.00 in a report on Monday, February 12th. Citigroup boosted their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Finally, Truist Financial boosted their target price on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $168.21.

Owens Corning Price Performance

The stock has a market capitalization of $15.15 billion, a PE ratio of 14.16, a P/E/G ratio of 5.04 and a beta of 1.45. The firm’s 50 day simple moving average is $162.11 and its 200 day simple moving average is $147.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the firm posted $2.77 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Owens Corning will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,864 shares of company stock valued at $1,819,471. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock valued at $202,932,000 after acquiring an additional 906,782 shares during the period. Pacer Advisors Inc. raised its stake in shares of Owens Corning by 6,116.6% in the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after buying an additional 819,201 shares during the period. Norges Bank purchased a new position in shares of Owens Corning during the 4th quarter valued at about $118,251,000. Nordea Investment Management AB grew its stake in shares of Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Owens Corning by 1,602.4% during the third quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock valued at $64,868,000 after purchasing an additional 447,606 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

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.