Owens Corning (OC) Reaches New 52-Week Low at $49.12

Shares of Owens Corning (NYSE:OC) hit a new 52-week low during trading on Wednesday . The stock traded as low as $49.12 and last traded at $49.96, with a volume of 35312 shares. The stock had previously closed at $51.20.

OC has been the topic of several research analyst reports. Longbow Research reiterated a “buy” rating on shares of Owens Corning in a research note on Monday, September 24th. Goldman Sachs Group initiated coverage on shares of Owens Corning in a research report on Tuesday, October 2nd. They set a “buy” rating and a $75.00 target price on the stock. Seaport Global Securities set a $72.00 target price on shares of Owens Corning and gave the company a “buy” rating in a research report on Wednesday, July 25th. Nomura set a $88.00 target price on shares of Owens Corning and gave the company a “buy” rating in a research report on Wednesday, August 29th. Finally, Credit Suisse Group restated a “neutral” rating and set a $57.00 target price on shares of Owens Corning in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Owens Corning currently has a consensus rating of “Hold” and an average price target of $79.44.

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 1.59. The stock has a market cap of $6.02 billion, a PE ratio of 11.21, a PEG ratio of 0.63 and a beta of 0.98.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Tuesday, October 16th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, October 15th. Owens Corning’s dividend payout ratio (DPR) is currently 19.09%.

In related news, Director W Howard Morris sold 1,514 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $58.47, for a total value of $88,523.58. Following the sale, the director now directly owns 36,332 shares of the company’s stock, valued at approximately $2,124,332.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of OC. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Owens Corning in the 2nd quarter worth about $127,000. Gradient Investments LLC bought a new position in Owens Corning in the 3rd quarter worth about $138,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Owens Corning in the 2nd quarter worth about $163,000. Synovus Financial Corp grew its stake in Owens Corning by 2,016.9% in the 2nd quarter. Synovus Financial Corp now owns 3,133 shares of the construction company’s stock worth $198,000 after acquiring an additional 2,985 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in Owens Corning in the 2nd quarter worth about $218,000.

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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