Owens Corning (NYSE:OC) Upgraded at StockNews.com

StockNews.com upgraded shares of Owens Corning (NYSE:OC – Get Rating) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

A number of other research firms also recently commented on OC. Barclays dropped their target price on shares of Owens Corning from $91.00 to $86.00 in a report on Wednesday, December 14th. Benchmark boosted their target price on shares of Owens Corning from $110.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Owens Corning from $99.00 to $100.00 and gave the stock a hold rating in a report on Tuesday, January 10th. Truist Financial lifted their target price on shares of Owens Corning from $85.00 to $105.00 in a research report on Friday, February 17th. Finally, Loop Capital lifted their target price on shares of Owens Corning from $102.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $99.92.

Owens Corning Stock Performance

Shares of OC stock opened at $89.80 on Wednesday. The company’s fifty day simple moving average is $95.63 and its 200-day simple moving average is $89.41. Owens Corning has a 52 week low of $72.97 and a 52 week high of $105.62. The company has a current ratio of 1.69, a quick ratio of 1.06 and a debt-to-equity ratio of 0.65. The company has a market cap of $8.15 billion, a PE ratio of 7.08, a P/E/G ratio of 1.65 and a beta of 1.42.

Owens Corning (NYSE:OC – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The construction company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. Owens Corning had a net margin of 12.71% and a return on equity of 27.36%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $2.20 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Owens Corning will post 9.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Friday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, March 2nd. Owens Corning’s payout ratio is presently 16.40%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Todd W. Fister sold 2,505 shares of Owens Corning stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $100.00, for a total value of $250,500.00. Following the completion of the sale, the insider now directly owns 31,482 shares in the company, valued at $3,148,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.44% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

A number of institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in shares of Owens Corning by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 9,488 shares of the construction company’s stock worth $809,000 after buying an additional 125 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Owens Corning by 12.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,437 shares of the construction company’s stock worth $123,000 after buying an additional 154 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Owens Corning by 42.3% in the fourth quarter. Fifth Third Bancorp now owns 552 shares of the construction company’s stock worth $47,000 after buying an additional 164 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Owens Corning by 2.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 6,846 shares of the construction company’s stock worth $538,000 after buying an additional 189 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in Owens Corning by 8.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,747 shares of the construction company’s stock valued at $274,000 after purchasing an additional 217 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Company Profile

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Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber, and includes vertically integrated downstream activities.