Shares of Owens Corning Inc (NYSE:OC – Get Free Report) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $163.25.
OC has been the subject of several recent research reports. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Barclays raised their price objective on shares of Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Truist Financial set a $198.00 price target on shares of Owens Corning in a report on Thursday.
Owens Corning Price Performance
Owens Corning (NYSE:OC – Get Free Report) last issued its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $4.21 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Owens Corning will post 9.65 earnings per share for the current fiscal year.
Owens Corning Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio is presently -39.21%.
Insiders Place Their Bets
In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Owens Corning
A number of large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. raised its position in shares of Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after purchasing an additional 112 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Owens Corning during the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Owens Corning in the 1st quarter valued at $30,000. Harbour Investments Inc. grew its stake in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after buying an additional 129 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning in the 4th quarter worth $37,000. Institutional investors own 88.40% of the company’s stock.
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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