Owens Corning (NYSE:OC) – Stock analysts at B. Riley increased their FY2018 earnings per share estimates for Owens Corning in a research note issued to investors on Wednesday, according to Zacks Investment Research. B. Riley analyst A. Rygiel now expects that the construction company will post earnings per share of $5.48 for the year, up from their previous forecast of $4.65.
Several other research firms have also issued reports on OC. KeyCorp reaffirmed a “buy” rating and issued a $115.00 price target on shares of Owens Corning in a research report on Friday. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Saturday, January 6th. Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Seaport Global Securities lifted their price target on Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Argus started coverage on Owens Corning in a research report on Wednesday, December 6th. They issued a “buy” rating and a $109.00 target price for the company. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $84.77.
Owens Corning (OC) traded up $0.43 on Friday, hitting $95.92. The stock had a trading volume of 702,886 shares, compared to its average volume of 1,190,000. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $10,670.00, a price-to-earnings ratio of 28.63, a PEG ratio of 1.18 and a beta of 1.09. Owens Corning has a 12-month low of $50.77 and a 12-month high of $95.99.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. Owens Corning’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS.
Several institutional investors have recently added to or reduced their stakes in OC. Grove Bank & Trust grew its stake in shares of Owens Corning by 213.5% during the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after acquiring an additional 1,110 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Owens Corning during the 3rd quarter valued at approximately $202,000. Worth Venture Partners LLC bought a new position in shares of Owens Corning during the 3rd quarter valued at approximately $213,000. Advisors Asset Management Inc. grew its stake in shares of Owens Corning by 214.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock valued at $214,000 after acquiring an additional 1,885 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. bought a new position in shares of Owens Corning during the 2nd quarter valued at approximately $228,000. Institutional investors and hedge funds own 94.50% of the company’s stock.
In other Owens Corning news, Director W Howard Morris sold 2,026 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael H. Thaman sold 101,600 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total value of $8,669,528.00. Following the sale, the chairman now owns 840,370 shares of the company’s stock, valued at $71,708,772.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,933 shares of company stock valued at $11,196,722. Corporate insiders own 1.80% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.21 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, December 29th. Owens Corning’s payout ratio is currently 25.07%.
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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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