Owens Corning (NYSE:OC) Sets New 12-Month Low on Analyst Downgrade

Owens Corning (NYSE:OC - Get Free Report) reached a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $215.00 to $179.00. Barclays currently has an overweight rating on the stock. Owens Corning traded as low as $124.33 and last traded at $126.11, with a volume of 1012092 shares trading hands. The stock had previously closed at $129.78.

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OC has been the subject of several other reports. Citigroup dropped their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective on the stock. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $199.42.

Read Our Latest Stock Report on OC

Insider Transactions at Owens Corning

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In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds have recently modified their holdings of OC. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the fourth quarter valued at about $28,000. Venturi Wealth Management LLC lifted its stake in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB raised its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth $34,000. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Down 2.8 %

• Owens-Corning Stock: Good Value or Recession Red Flag?

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market capitalization of $10.79 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The stock has a fifty day moving average price of $156.31 and a 200 day moving average price of $174.44.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.21 earnings per share. On average, research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.19%. Owens Corning's dividend payout ratio (DPR) is currently 37.70%.

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.

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