Owens Corning (NYSE:OC) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Owens Corning (NYSE:OC) from a buy rating to a hold rating in a research report report published on Friday.

OC has been the topic of a number of other reports. Jefferies Financial Group began coverage on Owens Corning in a research report on Wednesday, May 22nd. They set a buy rating and a $215.00 target price on the stock. Barclays lowered their price target on Owens Corning from $190.00 to $189.00 and set an equal weight rating on the stock in a report on Friday, July 12th. Benchmark reissued a hold rating on shares of Owens Corning in a research note on Wednesday, August 7th. UBS Group raised their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group restated a neutral rating and set a $187.00 price target on shares of Owens Corning in a report on Monday, June 17th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $184.23.

Owens Corning Trading Up 1.3 %

Shares of NYSE OC opened at $168.73 on Friday. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.35 and a beta of 1.42. The stock’s 50 day simple moving average is $169.28 and its 200 day simple moving average is $167.95. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insiders Place Their Bets

In related news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the sale, the vice president now owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Insiders sold a total of 6,240 shares of company stock valued at $1,107,192 in the last quarter. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several hedge funds have recently made changes to their positions in the stock. Natixis Advisors L.P. raised its stake in shares of Owens Corning by 2.1% in the fourth quarter. Natixis Advisors L.P. now owns 16,291 shares of the construction company’s stock valued at $2,414,000 after purchasing an additional 342 shares in the last quarter. M&T Bank Corp raised its stake in shares of Owens Corning by 16.3% in the 4th quarter. M&T Bank Corp now owns 4,481 shares of the construction company’s stock valued at $664,000 after buying an additional 627 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Owens Corning by 0.7% during the 4th quarter. LSV Asset Management now owns 2,272,150 shares of the construction company’s stock worth $336,801,000 after acquiring an additional 15,714 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Owens Corning during the 4th quarter valued at about $296,000. Finally, Machina Capital S.A.S. bought a new stake in Owens Corning in the fourth quarter valued at about $205,000. 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.