Owens Corning Inc (NYSE:OC) Stock Now Rated “Hold” by Sell-Side Brokerages

Owens Corning Inc (NYSE:OC) has been given an average rating of “Hold” by the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $142.07.

A number of research analysts have recently weighed in on OC shares. Evercore set a $185.00 target price on Owens Corning in a report on Thursday, October 1st. Bank of America decreased their price target on Owens Corning from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank Of Canada lowered Owens Corning from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $172.00 to $127.00 in a research report on Wednesday, October 7th. Zacks Research cut Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Finally, Citigroup raised their price objective on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 7th.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $121.80 on Friday. The company has a market cap of $9.63 billion, a P/E ratio of -15.11, a PEG ratio of 3.42 and a beta of 1.32. The business has a 50-day moving average price of $124.80 and a two-hundred day moving average price of $126.14. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.91.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.21 EPS. As a group, analysts anticipate that Owens Corning will post 9.39 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be issued a $0.79 dividend. The ex-dividend date is Monday, October 19th. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. Owens Corning’s dividend payout ratio is currently -39.21%.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the transaction, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dala Group LLC boosted its holdings in shares of Owens Corning by 3.3% in the 3rd quarter. Dala Group LLC now owns 10,507 shares of the construction company’s stock worth $1,227,000 after buying an additional 336 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in Owens Corning by 7.9% during the third quarter. Cidel Asset Management Inc. now owns 1,841 shares of the construction company’s stock worth $215,000 after buying an additional 135 shares during the last quarter. Americana Partners LLC purchased a new stake in Owens Corning during the third quarter worth about $240,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Owens Corning by 109.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 27,900 shares of the construction company’s stock worth $3,257,000 after acquiring an additional 14,600 shares during the period. Finally, Parcion Private Wealth LLC bought a new stake in Owens Corning in the third quarter worth about $631,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.