Shares of Owens Corning (NYSE:OC) have been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $87.05.
A number of equities analysts have weighed in on the company. ValuEngine lowered Owens Corning from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Citigroup boosted their target price on Owens Corning from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 20th. Zelman & Associates raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, June 19th. Stifel Nicolaus reduced their price target on shares of Owens Corning from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Finally, Argus lowered shares of Owens Corning from a “buy” rating to a “hold” rating and upped their price target for the company from $96.52 to $109.00 in a research report on Friday, June 1st.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Owens Corning by 20.9% in the 4th quarter. BlackRock Inc. now owns 7,357,067 shares of the construction company’s stock worth $676,411,000 after purchasing an additional 1,273,051 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Owens Corning by 5.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,894,037 shares of the construction company’s stock valued at $174,137,000 after buying an additional 95,571 shares during the period. Wells Fargo & Company MN boosted its position in Owens Corning by 43.3% during the first quarter. Wells Fargo & Company MN now owns 1,655,562 shares of the construction company’s stock valued at $133,106,000 after purchasing an additional 500,388 shares in the last quarter. Geode Capital Management LLC boosted its position in Owens Corning by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 1,361,187 shares of the construction company’s stock valued at $125,094,000 after purchasing an additional 51,140 shares in the last quarter. Finally, Investec Asset Management LTD boosted its position in Owens Corning by 19.1% during the fourth quarter. Investec Asset Management LTD now owns 1,164,295 shares of the construction company’s stock valued at $107,045,000 after purchasing an additional 187,037 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.
Owens Corning traded down $0.62, reaching $65.01, during mid-day trading on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 2,043,131 shares, compared to its average volume of 1,479,909. Owens Corning has a 12-month low of $61.00 and a 12-month high of $96.52. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.93 and a current ratio of 1.61. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.66 and a beta of 1.08.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, April 25th. The construction company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.16). Owens Corning had a return on equity of 11.95% and a net margin of 4.24%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm posted $0.85 EPS. Owens Corning’s quarterly revenue was up 14.4% compared to the same quarter last year. research analysts predict that Owens Corning will post 5.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 2nd. Shareholders of record on Tuesday, July 17th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, July 16th. This represents a $0.84 annualized dividend and a yield of 1.29%. Owens Corning’s payout ratio is 19.09%.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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