Several other research analysts also recently commented on the stock. Jefferies Group LLC reiterated a buy rating and issued a $65.00 target price (up previously from $60.00) on shares of Owens Corning in a report on Thursday, February 9th. Zacks Investment Research downgraded shares of Owens Corning from a hold rating to a sell rating in a report on Tuesday, January 17th. Barclays PLC started coverage on shares of Owens Corning in a report on Thursday, January 5th. They issued an equal weight rating and a $54.00 target price on the stock. KeyCorp upgraded shares of Owens Corning from a sector weight rating to an overweight rating and set a $60.00 target price on the stock in a report on Thursday, January 5th. Finally, Macquarie started coverage on shares of Owens Corning in a report on Friday, December 16th. They issued an underperform rating and a $48.00 target price on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $57.11.
Shares of Owens Corning (NYSE:OC) opened at 57.51 on Thursday. The stock’s 50 day moving average price is $53.91 and its 200 day moving average price is $52.87. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 16.87 and a beta of 1.09. Owens Corning has a 52 week low of $39.98 and a 52 week high of $58.69.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.12. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.31 billion. Owens Corning had a net margin of 6.92% and a return on equity of 10.75%. Owens Corning’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. Equities research analysts anticipate that Owens Corning will post $3.82 EPS for the current fiscal year.
“Owens Corning’s (OC) Buy Rating Reiterated at Stifel Nicolaus” was first published by sleekmoney and is the property of of sleekmoney. If you are viewing this news story on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this news story can be viewed at http://sleekmoney.com/owens-cornings-oc-buy-rating-reiterated-at-stifel-nicolaus/1659652.html.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, March 8th. Owens Corning’s dividend payout ratio is presently 23.46%.
In other Owens Corning news, Chairman Michael H. Thaman sold 226,400 shares of the business’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $55.50, for a total value of $12,565,200.00. Following the completion of the transaction, the chairman now directly owns 693,651 shares of the company’s stock, valued at $38,497,630.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Owens Corning by 1.0% in the second quarter. Amalgamated Bank now owns 13,866 shares of the company’s stock worth $749,000 after buying an additional 138 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Owens Corning by 11.8% in the second quarter. Legal & General Group Plc now owns 68,861 shares of the company’s stock worth $3,539,000 after buying an additional 7,256 shares in the last quarter. Elk Creek Partners LLC purchased a new position in shares of Owens Corning during the second quarter worth about $3,187,000. AQR Capital Management LLC boosted its position in shares of Owens Corning by 7.8% in the second quarter. AQR Capital Management LLC now owns 2,731,267 shares of the company’s stock worth $140,715,000 after buying an additional 197,987 shares in the last quarter. Finally, Usca Ria LLC purchased a new position in shares of Owens Corning during the second quarter worth about $613,000.
About Owens Corning
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/owens-cornings-oc-buy-rating-reiterated-at-stifel-nicolaus/1659652.html
Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with MarketBeat.com's FREE daily email newsletter.