Owens Corning Inc (NYSE:OC) Receives $149.75 Consensus PT from Analysts

Shares of Owens Corning Inc (NYSE:OC) have been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $149.75.

A number of research firms have weighed in on OC. Royal Bank Of Canada set a $143.00 price target on shares of Owens Corning in a research report on Friday, January 9th. Citigroup dropped their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Barclays increased their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Finally, Jefferies Financial Group cut 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.

Owens Corning Stock Performance

Shares of OC opened at $124.33 on Friday. The business has a 50-day simple moving average of $114.24 and a two-hundred day simple moving average of $129.95. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. Owens Corning has a 52 week low of $97.53 and a 52 week high of $192.96. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of -21.74, a PEG ratio of 2.57 and a beta of 1.35.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.38 EPS. On average, analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th were given a dividend of $0.79 per share. The ex-dividend date was Monday, January 5th. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. Owens Corning’s dividend payout ratio (DPR) is -55.24%.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Owens Corning during the 2nd quarter worth approximately $163,719,000. First Trust Advisors LP increased its position in Owens Corning by 164.6% in the second quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock worth $126,618,000 after purchasing an additional 572,770 shares during the last quarter. Clean Energy Transition LLP purchased a new stake in Owens Corning during the third quarter valued at $75,203,000. Amundi lifted its position in Owens Corning by 92.9% during the second quarter. Amundi now owns 1,086,735 shares of the construction company’s stock valued at $157,279,000 after purchasing an additional 523,376 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Owens Corning by 99.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after buying an additional 454,382 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

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.