Owens Corning (NYSE:OC) Research Coverage Started at Vertical Research

Vertical Research began coverage on shares of Owens Corning (NYSE:OC) in a research note released on Monday, MarketBeat.com reports. The firm issued a hold rating on the construction company’s stock.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a report on Wednesday, October 8th. UBS Group lowered their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada cut their target price on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group decreased their target price on Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $178.31.

Owens Corning Trading Down 3.0%

Shares of OC stock opened at $126.75 on Monday. The stock has a 50-day simple moving average of $143.60 and a 200 day simple moving average of $141.08. The stock has a market capitalization of $10.60 billion, a P/E ratio of 32.92, a P/E/G ratio of 9.50 and a beta of 1.32. Owens Corning has a fifty-two week low of $123.23 and a fifty-two week high of $214.53. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping the consensus estimate of $3.80 by $0.41. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.64 earnings per share. On average, sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, October 20th. Owens Corning’s payout ratio is currently 71.69%.

Institutional Trading of Owens Corning

Several large investors have recently added to or reduced their stakes in OC. Greenleaf Trust lifted its stake in shares of Owens Corning by 6.2% in the 3rd quarter. Greenleaf Trust now owns 5,442 shares of the construction company’s stock valued at $770,000 after purchasing an additional 317 shares during the last quarter. D.A. Davidson & CO. bought a new position in Owens Corning during the third quarter valued at about $1,097,000. Asset Management One Co. Ltd. lifted its position in shares of Owens Corning by 0.6% in the third quarter. Asset Management One Co. Ltd. now owns 31,668 shares of the construction company’s stock worth $4,480,000 after buying an additional 198 shares during the last quarter. apricus wealth LLC acquired a new stake in shares of Owens Corning in the third quarter worth about $1,959,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Owens Corning by 3,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 348 shares of the construction company’s stock valued at $49,000 after acquiring an additional 339 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

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.