Shares of Owens Corning (NYSE:OC) have been assigned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $85.06.
A number of brokerages recently weighed in on OC. Truist upped their price objective on Owens Corning from $95.00 to $101.00 in a report on Tuesday, March 16th. Barclays upped their price objective on Owens Corning from $89.00 to $102.00 and gave the stock an “equal weight” rating in a report on Thursday, April 29th. Northcoast Research reaffirmed a “neutral” rating on shares of Owens Corning in a report on Wednesday, April 21st. Royal Bank of Canada upped their price objective on Owens Corning from $88.00 to $99.00 and gave the stock a “sector perform” rating in a report on Thursday, April 29th. Finally, Truist Securities upped their target price on Owens Corning from $95.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, March 16th.
In related news, insider Marcio A. Sandri sold 12,000 shares of the stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $97.02, for a total transaction of $1,164,240.00. Following the transaction, the insider now directly owns 35,531 shares in the company, valued at $3,447,217.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel T. Smith sold 10,341 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $95.00, for a total value of $982,395.00. Following the transaction, the executive vice president now owns 48,139 shares in the company, valued at $4,573,205. The disclosure for this sale can be found here. Insiders have sold 31,866 shares of company stock worth $3,028,841 over the last quarter. 0.72% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in OC. EdgePoint Investment Group Inc. purchased a new position in shares of Owens Corning in the 1st quarter worth about $196,186,000. Nordea Investment Management AB raised its holdings in shares of Owens Corning by 122.3% in the 1st quarter. Nordea Investment Management AB now owns 2,537,957 shares of the construction company’s stock worth $235,599,000 after purchasing an additional 1,396,261 shares during the period. River & Mercantile Asset Management LLP grew its stake in shares of Owens Corning by 532.3% in the fourth quarter. River & Mercantile Asset Management LLP now owns 1,525,152 shares of the construction company’s stock valued at $115,554,000 after buying an additional 1,283,942 shares in the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the fourth quarter valued at about $96,383,000. Finally, Korea Investment CORP grew its stake in shares of Owens Corning by 109.7% in the fourth quarter. Korea Investment CORP now owns 1,461,800 shares of the construction company’s stock valued at $110,746,000 after buying an additional 764,800 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.
Shares of Owens Corning stock traded down $0.04 during trading hours on Wednesday, hitting $97.57. 6,621 shares of the company were exchanged, compared to its average volume of 933,702. Owens Corning has a 1 year low of $51.53 and a 1 year high of $109.89. The company has a quick ratio of 1.28, a current ratio of 1.87 and a debt-to-equity ratio of 0.79. The firm has a 50-day simple moving average of $101.03. The firm has a market capitalization of $10.19 billion, a PE ratio of 14.17 and a beta of 1.55.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 28th. The construction company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.31. Owens Corning had a return on equity of 17.38% and a net margin of 10.10%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, research analysts predict that Owens Corning will post 8.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 16th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, July 15th. Owens Corning’s payout ratio is currently 19.96%.
About Owens Corning
Owens Corning manufactures and markets a range of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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