Owens Corning (NYSE:OC) has received a consensus recommendation of “Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $88.20.
Several analysts have recently commented on the stock. MKM Partners lifted their price target on shares of Owens Corning to $86.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Royal Bank of Canada set a $102.00 price target on shares of Owens Corning and gave the company a “buy” rating in a research report on Friday, February 23rd. Zelman & Associates lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Credit Suisse Group reaffirmed an “outperform” rating and set a $110.00 price target (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. Finally, Seaport Global Securities lifted their price target 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.
Shares of Owens Corning (OC) traded up $1.93 during trading on Friday, hitting $83.33. The stock had a trading volume of 761,452 shares, compared to its average volume of 1,220,000. The firm has a market cap of $9,530.00, a PE ratio of 25.33, a P/E/G ratio of 0.81 and a beta of 1.08. Owens Corning has a fifty-two week low of $59.26 and a fifty-two week high of $96.52. The company has a current ratio of 1.55, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, March 8th. Owens Corning’s payout ratio is 25.53%.
Several large investors have recently bought and sold shares of OC. BlackRock Inc. grew its stake in shares of Owens Corning by 20.9% in the fourth quarter. BlackRock Inc. now owns 7,357,067 shares of the construction company’s stock worth $676,411,000 after acquiring an additional 1,273,051 shares in the last quarter. Investec Asset Management LTD acquired a new position in shares of Owens Corning in the third quarter worth $75,591,000. Wells Fargo & Company MN grew its stake in shares of Owens Corning by 278.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,155,174 shares of the construction company’s stock worth $106,206,000 after purchasing an additional 849,871 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Owens Corning by 22.4% during the third quarter. Allianz Asset Management GmbH now owns 1,798,466 shares of the construction company’s stock worth $139,112,000 after purchasing an additional 328,726 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Owens Corning by 213.0% during the third quarter. Principal Financial Group Inc. now owns 436,865 shares of the construction company’s stock worth $33,792,000 after purchasing an additional 297,311 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.
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Owens Corning Company Profile
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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