Owens Corning (NYSE:OC) – Research analysts at SunTrust Banks decreased their FY2018 earnings per share estimates for Owens Corning in a report issued on Wednesday, October 24th. SunTrust Banks analyst K. Hughes now anticipates that the construction company will post earnings per share of $4.71 for the year, down from their previous forecast of $5.22. SunTrust Banks has a “Positive” rating and a $45.00 price target on the stock. SunTrust Banks also issued estimates for Owens Corning’s Q4 2018 earnings at $1.20 EPS and Q4 2019 earnings at $1.48 EPS.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.11). Owens Corning had a net margin of 5.33% and a return on equity of 12.37%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.
NYSE:OC opened at $47.45 on Monday. Owens Corning has a 52 week low of $42.88 and a 52 week high of $96.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.87 and a current ratio of 1.62. The company has a market cap of $4.94 billion, a PE ratio of 10.78, a PEG ratio of 0.71 and a beta of 0.98.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Tuesday, October 16th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, October 15th. Owens Corning’s dividend payout ratio is currently 19.09%.
In related news, Director W Howard Morris sold 1,514 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $58.47, for a total value of $88,523.58. Following the sale, the director now owns 36,332 shares in the company, valued at $2,124,332.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Zacks Investment Management raised its position in Owens Corning by 4.9% in the second quarter. Zacks Investment Management now owns 18,662 shares of the construction company’s stock worth $1,183,000 after acquiring an additional 880 shares during the period. Rothschild Investment Corp IL raised its position in Owens Corning by 1.2% in the second quarter. Rothschild Investment Corp IL now owns 74,406 shares of the construction company’s stock worth $4,715,000 after acquiring an additional 905 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in Owens Corning by 10.3% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 9,802 shares of the construction company’s stock worth $621,000 after acquiring an additional 912 shares during the period. Vident Investment Advisory LLC raised its position in Owens Corning by 2.8% in the second quarter. Vident Investment Advisory LLC now owns 37,334 shares of the construction company’s stock worth $2,366,000 after acquiring an additional 1,028 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Owens Corning by 22.7% in the first quarter. The Manufacturers Life Insurance Company now owns 5,957 shares of the construction company’s stock worth $479,000 after acquiring an additional 1,102 shares during the period. Institutional investors own 94.36% of the company’s stock.
Owens Corning Company Profile
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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