According to information from Bloomberg, the fifteen research firms covering Owens Corning (NYSE: OC) have given the stock an average rating of “Hold.” The stock has received a recommendation to buy from all six of the equity research professionals that were polled, a recommendation to hold from all five of the experts that were polled, and a recommendation to sell from both of the experts that were polled. According to the recommendations of brokers who covered the stock in the previous year, the average price target for the company over the next year is projected to be $100.93. This price is expected to be reached during the next year.
OC has been the topic of conversation in several different analyst articles as of late. Barclays decreased their price target for Owens Corning from $90.00 to $86.00 in a report on the company’s financial prospects published on Wednesday, December 14. In a report released on December 20, JPMorgan Chase & Co. gave Owens Corning an “underweight” rating, which is a significant downgrade from their previous “neutral” rating. In addition, the company lowered its price objective, going from $85.00 to $79.00. The price objective for Owens Corning was increased from $88.00 to $90.00 in a research report disseminated by Citigroup on Tuesday, January 10. On Thursday, October 27, Credit Suisse Group announced in a research note that they had lowered their price objective on Owens Corning from $90.00 to $80.00 and rated the stock as “neutral.” Deutsche Bank Aktiengesellschaft, in a research note published on Tuesday, January 10, assigned the company a “hold” rating and increased their price objective on Owens Corning from $99.00 to $100.00. Both of these changes were made concerning Owens Corning. Both decisions were made with the company’s stock in mind at some point during the process.
On Thursday, shares of NYSE: OC began trading at $90.96 when the market opened. The price of an individual unit of Owens Corning could fluctuate anywhere from $72.97 to $101.12 over a single year. The company has a PE ratio of 6.69, a PEG ratio of 0.80, and its beta value is currently at 1.41. The market capitalization of the company is currently sitting at $8.50 billion at this time. At this time, the company’s moving averages for the previous 50 and 200 days are $89.95 and $86.21. We can see that the debt-to-equity ratio is 0.64, the current ratio is 1.77, and the quick ratio is 1.11 in this illustration.
Wednesday, October 26, was the day the public was given access to the most recent quarterly earnings report that Owens Corning (NYSE: OC) had made public. The construction company reported earnings of $3.57 per share for the quarter, which is $0.40 more than the average estimate of the analysts, who were anticipating earnings of $3.17 per share for the period. The return on equity for Owens Corning was 27.52%, while the company’s net margin was 13.99%. The analysts’ estimates for the company’s quarterly sales ranged from $2.55 billion to $2.53 billion. The analysts provided this range of estimates. Compared to the previous year’s results for the same quarter, the company’s earnings per share came in at $2.52. Compared to the same period the previous year, the revenue for the quarter saw a 14.3% increase in growth. According to the consensus of industry experts, Owens Corning will bring in a profit of $12.67 per share during the current financial year.
In addition, the company has declared a quarterly dividend, which will be paid out on the nineteenth of this month. On January 4, stockholders recorded as owning the company will be eligible to receive the dividend payment of $0.52. Given that Owens Corning’s most recent quarterly dividend was $0.35, we can confidently say that this represents an increase in the company’s payout. On January 3, a decision will be made regarding whether or not this dividend will be distributed to shareholders. This leads to a dividend yield of 2.29% and a dividend amount of $2.08 per year as a direct consequence of this situation. The current dividend payout ratio for Owens Corning stands at 15.31% at this time.
Furthermore, on Friday, December 9, Vice President Kelly Schmidt sold 2,181 shares of the company’s stock. This is an important item to bring to your attention. The price of each share sold was $93.74 on average, resulting in a total value of $204,446.94 for the shares sold. Following the successful sale conclusion, the vice president now has direct control over 13,018 shares of the company, the total value of which is 1,220,307.32 dollars. The transaction was made public through a filing that was made with the SEC, which can be located on the website of the SEC. One hundred eighty-one of the company’s shares were purchased by the investor. The price of each share sold was $93.74 on average, resulting in a total value of $204,446.94 for the shares sold. Following the successful sale conclusion, the vice president now has direct control over 13,018 shares of the company, the total value of which is 1,220,307.32 dollars. The transaction was made public through a filing that was made with the SEC, which can be located on the website of the SEC. On November 28, it was reported that corporate insider Marcio A. Sandri sold 3,600 shares of Owens Corning stock. These reports came from various departments within the corporation.
The stock was sold for a total value of $324,216.00, with a price per share that averaged $90.06; revenue was generated from the stock sale. After the completion of the transaction, the company insider now owns 46,428 shares of the company, each of which has a value of $4,181,305.68, according to the market. The Securities and Exchange Commission was given legal documentation about the transaction, which can be viewed entirely by following the link provided in the previous sentence. The documentation was provided to the SEC. Additionally, Vice President Kelly Schmidt sold 2,181 shares of Owens Corning stock on Friday, December 9. The price of each share sold was $93.74 on average, resulting in a total value of $204,446.94 for the shares sold. The company’s vice president currently owns 13,018 shares of the company’s stock, which are worth approximately $1,220,307.32 at this time. The disclosure about the purchase can be found in this particular location. The company’s insiders own 0.44 percent of the total number of shares outstanding.
In recent months, several hedge funds and other types of institutional investors have changed the proportion of OC held in their investment portfolios by either increasing or decreasing the amount of the asset. During the last quarter, the investment management company SummerHaven Investment Management LLC added 1.3% more Owens Corning stock to its portfolio than before. The investment management company SummerHaven Investment Management LLC is now the owner of 9,488 shares of stock in the construction company. These shares are worth a total of $809,000. This is because the company purchased 125 shares during the period in question. During the second quarter, Lindenwold Advisors achieved a 4.9% increase in the proportion of Owens Corning stock that the firm held. After purchasing an additional 133 shares during the most recent quarter, Lindenwold Advisors now has 2,861 shares of the construction company’s stock, which is $213,000. This brings the total number of shares the firm owns to 2,861. Asahi Life Asset Management Co., Ltd. increased its holdings in Owens Corning by 3.9% during the second quarter, buying more shares of the company’s stock to add to those it already owned. Asahi Life Asset Management Co., Ltd. now has 4,030 shares of the construction company’s stock after purchasing an additional 150 shares. Based on the current market price, this gives the company a value of approximately $299,000. Compared to the previous level, Lindbrook Capital LLC increased the percentage of ownership it holds in Owens Corning by 66.3% during the second quarter. After the recent purchase of 165 additional shares, Lindbrook Capital LLC now has 414 shares of the construction company’s stock, collectively worth a total of $31,000. These 414 shares have a combined value of $31,000. Mercer Global Advisors Inc. (ADV), during the third quarter, increased the amount of Owens Corning stock that it held by 2.8%. Mercer Global Advisors Inc. (ADV) now has 6,846 of the construction company’s stock after purchasing an additional 189 shares during the most recent period. This brings the total number of shares owned by the firm to 6,846. These shares are currently valued at $538,000 at the current market price. Most of the company’s stock, or 94.59%, is owned by various institutional investors.