Owens Corning (NYSE:OC) Reaches New 52-Week High at $65.22

Owens Corning (NYSE:OC)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $65.22 and last traded at $65.21, with a volume of 7670 shares traded. The stock had previously closed at $64.92.

Several research firms have commented on OC. SunTrust Banks increased their target price on shares of Owens Corning from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Buckingham Research raised shares of Owens Corning from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 22nd. Argus raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, October 29th. BNP Paribas began coverage on shares of Owens Corning in a research report on Wednesday, October 9th. They set an “outperform” rating on the stock. Finally, ValuEngine downgraded shares of Owens Corning from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $59.68.

The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.75 and a beta of 1.24. The company has a 50-day moving average price of $62.33 and a 200-day moving average price of $56.31. The company has a quick ratio of 0.87, a current ratio of 1.69 and a debt-to-equity ratio of 0.73.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.13. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. Equities analysts expect that Owens Corning will post 4.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Tuesday, October 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, October 11th. Owens Corning’s dividend payout ratio is currently 17.81%.

In other news, VP Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $63.25, for a total value of $316,250.00. Following the sale, the vice president now directly owns 38,425 shares of the company’s stock, valued at $2,430,381.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Daniel T. Smith sold 7,969 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $64.72, for a total value of $515,753.68. Following the completion of the sale, the vice president now directly owns 65,353 shares in the company, valued at $4,229,646.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,558 shares of company stock worth $5,740,586. 1.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC bought a new stake in shares of Owens Corning in the third quarter valued at about $1,960,000. Maj Invest Holding A S bought a new stake in shares of Owens Corning in the third quarter valued at about $101,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Owens Corning by 7.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,667,592 shares of the construction company’s stock valued at $168,592,000 after buying an additional 189,585 shares during the period. Boston Advisors LLC bought a new stake in shares of Owens Corning in the third quarter valued at about $675,000. Finally, Mason Street Advisors LLC bought a new stake in shares of Owens Corning in the third quarter valued at about $3,606,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

About Owens Corning (NYSE:OC)

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial 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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