Owens Corning (NYSE:OC) Hits New 1-Year High at $178.33

Owens Corning (NYSE:OC)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $178.33 and last traded at $177.38, with a volume of 450938 shares traded. The stock had previously closed at $174.63.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup upped their price objective on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada upped their target price on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. UBS Group lifted their price target on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Truist Financial raised their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.21.

Owens Corning Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The company has a 50-day moving average price of $164.27 and a two-hundred day moving average price of $148.95. The company has a market cap of $15.37 billion, a PE ratio of 14.14, a P/E/G ratio of 5.24 and a beta of 1.45.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.77 earnings per share. Sell-side analysts expect that Owens Corning will post 15.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

Hedge funds have recently added to or reduced their stakes in the business. MV Capital Management Inc. raised its stake in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Owens Corning during the 1st quarter valued at about $26,000. Contravisory Investment Management Inc. bought a new position in Owens Corning during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning during the fourth quarter valued at approximately $27,000. Finally, Riverview Trust Co acquired a new position in shares of Owens Corning in the 1st quarter worth approximately $28,000. Institutional investors own 88.40% of the company’s stock.

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.