Shares of Owens Corning (NYSE:OC) have been given an average recommendation of "Hold" by the twenty-five brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $80.24.
Several research analysts have issued reports on OC shares. Royal Bank of Canada raised their price target on shares of Owens Corning from $88.00 to $99.00 and gave the stock a "sector perform" rating in a report on Thursday, April 29th. Truist Securities raised their price objective on shares of Owens Corning from $95.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, March 22nd. Longbow Research lifted their price target on shares of Owens Corning from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 26th. The Goldman Sachs Group restated a "sell" rating and set a $76.00 price objective (down from $95.00) on shares of Owens Corning in a research note on Tuesday, March 9th. Finally, Jefferies Financial Group upped their target price on Owens Corning from $126.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, April 29th.
In other news, insider Marcio A. Sandri sold 12,000 shares of the stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $97.02, for a total value of $1,164,240.00. Following the sale, the insider now directly owns 35,531 shares of the company's stock, valued at $3,447,217.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Daniel T. Smith sold 10,341 shares of the stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $95.00, for a total value of $982,395.00. Following the sale, the executive vice president now directly owns 48,139 shares in the company, valued at $4,573,205. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,866 shares of company stock worth $3,028,841. Insiders own 1.50% of the company's stock.
Several institutional investors have recently added to or reduced their stakes in the stock. River & Mercantile Asset Management LLP boosted its position in shares of Owens Corning by 532.3% during 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 during the last quarter. Korea Investment CORP lifted its holdings in 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 acquiring an additional 764,800 shares during the period. Norges Bank bought a new position in Owens Corning in the fourth quarter valued at about $96,383,000. Nordea Investment Management AB lifted its holdings in Owens Corning by 11,117.3% in the fourth quarter. Nordea Investment Management AB now owns 1,141,696 shares of the construction company's stock valued at $86,495,000 after acquiring an additional 1,131,518 shares during the period. Finally, PGGM Investments lifted its holdings in Owens Corning by 2.8% in the fourth quarter. PGGM Investments now owns 1,095,190 shares of the construction company's stock valued at $82,972,000 after acquiring an additional 30,000 shares during the period. 91.23% of the stock is currently owned by institutional investors.
Owens Corning stock traded up $1.52 during mid-day trading on Tuesday, hitting $100.87. 13,064 shares of the stock were exchanged, compared to its average volume of 943,663. The company has a quick ratio of 1.29, a current ratio of 1.95 and a debt-to-equity ratio of 0.80. Owens Corning has a 12 month low of $36.18 and a 12 month high of $100.36. The firm's fifty day simple moving average is $94.00 and its two-hundred day simple moving average is $81.46. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of -20.08, a PEG ratio of 1.32 and a beta of 1.54.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 28th. The construction company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.31. Owens Corning had a negative net margin of 7.94% and a positive return on equity of 11.99%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.62 EPS. The company's revenue was up 19.6% compared to the same quarter last year. As a group, analysts forecast that Owens Corning will post 4.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Friday, March 5th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.03%. Owens Corning's dividend payout ratio is currently 22.91%.
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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