Owens Corning (NYSE:OC) Sets New 12-Month High Following Analyst Upgrade

Owens Corning (NYSE:OC)’s share price reached a new 52-week high during trading on Wednesday after Evercore ISI raised their price target on the stock from $175.00 to $189.00. Evercore ISI currently has an in-line rating on the stock. Owens Corning traded as high as $191.17 and last traded at $189.64, with a volume of 114597 shares traded. The stock had previously closed at $187.00.

Other analysts have also recently issued research reports about the company. UBS Group lifted their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Barclays lowered their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price target on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Owens Corning presently has an average rating of “Hold” and a consensus target price of $187.77.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. boosted its position in shares of Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares during the period. NBC Securities Inc. acquired a new position in Owens Corning during the 1st quarter worth $26,000. ST Germain D J Co. Inc. grew its stake in shares of Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Owens Corning during the first quarter valued at $28,000. Finally, ORG Partners LLC bought a new stake in shares of Owens Corning during the first quarter valued at about $31,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 1.0 %

The firm’s fifty day moving average is $168.07 and its two-hundred day moving average is $171.52. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 3.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $4.22 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio is presently 19.43%.

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.