Shares of Owens Corning Inc (NYSE:OC – Get Free Report) have been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $157.50.
A number of research firms have recently commented on OC. Truist Financial increased their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th.
Get Our Latest Research Report on OC
Owens Corning Stock Performance
Owens Corning (NYSE:OC – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.97 EPS. Equities research analysts anticipate that Owens Corning will post 9.55 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, August 6th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.2%. Owens Corning’s dividend payout ratio is presently -47.81%.
Insider Activity at Owens Corning
In related news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the transaction, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. The trade was a 38.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.
Institutional Investors Weigh In On Owens Corning
Several large investors have recently bought and sold shares of the business. Pitcairn Co. raised its position in Owens Corning by 4.6% in the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after buying an additional 80 shares during the last quarter. First Pacific Financial boosted its holdings in shares of Owens Corning by 2.3% during the 1st quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after acquiring an additional 85 shares during the last quarter. Viawealth LLC boosted its holdings in shares of Owens Corning by 3.6% during the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock valued at $287,000 after acquiring an additional 88 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Owens Corning by 2.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after acquiring an additional 90 shares during the period. Finally, Basecamp Wealth Advisors LLC grew its stake in shares of Owens Corning by 3.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock worth $359,000 after acquiring an additional 97 shares during the period. 88.40% of the stock is currently owned by institutional investors.
About Owens Corning
Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.
The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.
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