Owens Corning (NYSE:OC) Sets New 52-Week Low - Time to Sell?

Shares of Owens Corning (NYSE:OC - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $140.92 and last traded at $145.38, with a volume of 787679 shares changing hands. The stock had previously closed at $144.50.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OC. UBS Group decreased their price target on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. StockNews.com lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price target on Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $195.73.

Owens Corning Price Performance

The firm has a market capitalization of $12.32 billion, a PE ratio of 12.27, a PEG ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a 50-day simple moving average of $142.26 and a 200-day simple moving average of $169.12.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning's revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned $3.21 EPS. As a group, equities analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. Owens Corning's payout ratio is 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Oak Thistle LLC purchased a new stake in shares of Owens Corning during the 1st quarter worth approximately $388,000. KLP Kapitalforvaltning AS lifted its position in Owens Corning by 7.8% during the first quarter. KLP Kapitalforvaltning AS now owns 133,543 shares of the construction company's stock valued at $19,152,000 after purchasing an additional 9,700 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Owens Corning during the first quarter valued at $1,595,000. HighPoint Advisor Group LLC grew its stake in shares of Owens Corning by 5.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,298 shares of the construction company's stock worth $621,000 after buying an additional 229 shares in the last quarter. Finally, South Dakota Investment Council raised its position in shares of Owens Corning by 224.3% during the 1st quarter. South Dakota Investment Council now owns 59,862 shares of the construction company's stock valued at $8,549,000 after buying an additional 41,406 shares in the last quarter. 88.40% of the stock is owned by 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.