Owens Corning (NYSE:OC) has been given an average recommendation of “Buy” by the twenty-three ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $86.21.
A number of research analysts recently issued reports on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $110.00 target price (up previously from $95.00) on shares of Owens Corning in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Thursday, January 18th. KeyCorp reiterated a “buy” rating and set a $115.00 target price on shares of Owens Corning in a research report on Friday, January 12th. Seaport Global Securities boosted their target price on shares of Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Zelman & Associates downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th.
Owens Corning (OC) traded down $0.21 during trading on Tuesday, hitting $87.23. 1,122,210 shares of the company were exchanged, compared to its average volume of 926,063. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. Owens Corning has a 52 week low of $57.11 and a 52 week high of $96.52. The firm has a market cap of $9,700.00, a P/E ratio of 26.04, a PEG ratio of 1.05 and a beta of 0.98.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. Owens Corning’s dividend payout ratio (DPR) is presently 25.07%.
In other news, CFO Michael C. Mcmurray sold 18,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $90.78, for a total value of $1,634,040.00. Following the completion of the sale, the chief financial officer now owns 52,228 shares in the company, valued at approximately $4,741,257.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James J. Mcmonagle sold 4,136 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $87.20, for a total transaction of $360,659.20. Following the transaction, the director now owns 47,925 shares of the company’s stock, valued at approximately $4,179,060. The disclosure for this sale can be found here. Insiders have sold a total of 25,820 shares of company stock valued at $2,321,249 in the last 90 days. 1.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $119,000. Grove Bank & Trust lifted its holdings in Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,110 shares during the last quarter. Strs Ohio purchased a new stake in Owens Corning during the fourth quarter valued at about $129,000. Focused Wealth Management Inc purchased a new stake in Owens Corning during the fourth quarter valued at about $175,000. Finally, Avestar Capital LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $176,000. 93.65% of the stock is currently owned by institutional investors and hedge funds.
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About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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