Owens Corning (NYSE:OC) Sets New 12-Month High at $181.02

Owens Corning (NYSE:OC - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $181.02 and last traded at $179.66, with a volume of 30750 shares. The stock had previously closed at $177.70.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OC. Barclays downgraded Owens Corning from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $170.00 to $160.00 in a report on Monday, February 12th. UBS Group increased their target price on shares of Owens Corning from $169.00 to $192.00 and gave the company a "buy" rating in a report on Thursday, April 25th. Royal Bank of Canada boosted their price target on shares of Owens Corning from $175.00 to $192.00 and gave the stock an "outperform" rating in a report on Thursday, April 25th. Loop Capital increased their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Finally, Citigroup boosted their target price on Owens Corning from $150.00 to $169.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Owens Corning has an average rating of "Moderate Buy" and a consensus target price of $168.21.

Owens Corning Trading Up 1.0 %

The company has a market cap of $15.55 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 5.27 and a beta of 1.45. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $166.36 and a two-hundred day moving average of $150.88.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.77 earnings per share. As a group, sell-side analysts predict that Owens Corning will post 15.37 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Paula Russell sold 3,765 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

Institutional Trading of Owens Corning

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Owens Corning by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company's stock valued at $1,205,000 after purchasing an additional 67 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Owens Corning by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company's stock valued at $457,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC raised its holdings in Owens Corning by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company's stock worth $184,000 after buying an additional 77 shares during the last quarter. Blue Trust Inc. raised its holdings in Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock worth $36,000 after acquiring an additional 78 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company's stock worth $65,000 after purchasing an additional 78 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.