Owens Corning (NYSE:OC) Hits New 52-Week High at $170.55

Owens Corning (NYSE:OC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $170.55 and last traded at $170.28, with a volume of 68422 shares. The stock had previously closed at $166.82.

Analyst Ratings Changes

Several research analysts have recently issued reports on OC shares. Loop Capital raised their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a "buy" rating in a report on Monday. UBS Group cut their target price on shares of Owens Corning from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Thursday, February 15th. JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $164.00 to $163.00 and set a "neutral" rating on the stock in a report on Tuesday, February 20th. The Goldman Sachs Group raised their target price on shares of Owens Corning from $130.00 to $147.00 and gave the stock a "neutral" rating in a report on Thursday, December 14th. Finally, Royal Bank of Canada cut their target price on shares of Owens Corning from $183.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $159.64.

Owens Corning Trading Up 2.5 %

The stock has a market cap of $14.88 billion, a P/E ratio of 12.72, a PEG ratio of 0.46 and a beta of 1.47. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average price is $154.19 and its 200 day moving average price is $142.49.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the business posted $2.49 EPS. The company's quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Owens Corning will post 14.08 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Monday, March 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 1st. Owens Corning's dividend payout ratio is presently 18.29%.

Insider Transactions at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Brian Chambers sold 9,100 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now owns 269,696 shares of the company's stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 in the last quarter. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OC. State Street Corp grew its position in shares of Owens Corning by 3.7% during the 3rd quarter. State Street Corp now owns 4,301,672 shares of the construction company's stock valued at $338,154,000 after acquiring an additional 155,155 shares during the period. LSV Asset Management grew its holdings in Owens Corning by 0.7% during the fourth quarter. LSV Asset Management now owns 2,272,150 shares of the construction company's stock valued at $336,801,000 after purchasing an additional 15,714 shares during the period. Bank of America Corp DE increased its position in Owens Corning by 24.9% in the first quarter. Bank of America Corp DE now owns 1,556,181 shares of the construction company's stock worth $149,082,000 after buying an additional 310,487 shares in the last quarter. Invesco Ltd. increased its position in Owens Corning by 156.1% in the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company's stock worth $202,932,000 after buying an additional 906,782 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Owens Corning by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,481,937 shares of the construction company's stock worth $219,668,000 after buying an additional 35,530 shares during the period. Institutional investors own 88.40% of the company's stock.

About Owens Corning

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.