Owens Corning (NYSE:OC) Hits New 1-Year High at $181.60

Shares of Owens Corning (NYSE:OC) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $181.60 and last traded at $181.35, with a volume of 603618 shares changing hands. The stock had previously closed at $176.67.

Wall Street Analyst Weigh In

OC has been the subject of several research reports. Royal Bank of Canada increased their price objective on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup lifted their price target on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Loop Capital lifted their price target on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Barclays cut Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Finally, Jefferies Financial Group started coverage on Owens Corning in a report on Wednesday. They issued a “buy” rating and a $215.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $172.07.

Owens Corning Trading Up 2.6 %

The stock has a fifty day moving average of $169.16 and a 200 day moving average of $153.34. The company has a market capitalization of $15.72 billion, a P/E ratio of 14.30, a PEG ratio of 5.19 and a beta of 1.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $2.77 EPS. Owens Corning’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.76 EPS for the current fiscal year.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the transaction, the insider now directly owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its position in shares of Owens Corning by 30.1% during the 3rd quarter. Fifth Third Bancorp now owns 829 shares of the construction company’s stock worth $113,000 after purchasing an additional 192 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Owens Corning by 4.7% during the 3rd quarter. California Public Employees Retirement System now owns 194,842 shares of the construction company’s stock worth $26,578,000 after purchasing an additional 8,686 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Owens Corning by 23.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,890 shares of the construction company’s stock worth $394,000 after purchasing an additional 553 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Owens Corning during the 3rd quarter worth about $215,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Owens Corning during the 3rd quarter worth about $1,204,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.