Owens Corning (OC) Reaches New 1-Year Low at $54.60

Owens Corning (NYSE:OC)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $54.60 and last traded at $55.54, with a volume of 26690 shares. The stock had previously closed at $55.74.

A number of equities analysts have recently commented on OC shares. Longbow Research reiterated a “buy” rating on shares of Owens Corning in a report on Monday. Argus lowered shares of Owens Corning from a “buy” rating to a “hold” rating and lifted their price target for the stock from $96.52 to $109.00 in a report on Friday, June 1st. Zelman & Associates upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. Seaport Global Securities set a $72.00 price target on shares of Owens Corning and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Citigroup lifted their price target on shares of Owens Corning from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $80.11.

The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 1.59.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 25th. The construction company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.28). Owens Corning had a return on equity of 11.72% and a net margin of 4.47%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $1.20 EPS. Owens Corning’s quarterly revenue was up 14.2% on a year-over-year basis. equities analysts anticipate that Owens Corning will post 5.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Tuesday, October 16th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, October 15th. Owens Corning’s dividend payout ratio is presently 19.09%.

In other Owens Corning news, Director W Howard Morris sold 1,514 shares of Owens Corning stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $58.47, for a total value of $88,523.58. Following the completion of the sale, the director now directly owns 36,332 shares of the company’s stock, valued at $2,124,332.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Owens Corning in the second quarter valued at $127,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Owens Corning in the second quarter valued at $163,000. Element Capital Management LLC bought a new stake in Owens Corning in the first quarter valued at $237,000. Mariner LLC bought a new stake in Owens Corning in the first quarter valued at $241,000. Finally, Synovus Financial Corp increased its stake in Owens Corning by 2,016.9% in the second quarter. Synovus Financial Corp now owns 3,133 shares of the construction company’s stock valued at $198,000 after purchasing an additional 2,985 shares in the last quarter.

Owens Corning Company Profile (NYSE:OC)

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