Owens Corning (OC) Scheduled to Post Earnings on Wednesday

Owens Corning (NYSE:OCGet Free Report) will issue its quarterly earnings data before the market opens on Wednesday, February 14th. Analysts expect the company to announce earnings of $2.80 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Owens Corning Price Performance

Shares of OC opened at $153.33 on Wednesday. The company has a market capitalization of $13.63 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.47. The company has a quick ratio of 1.49, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $147.77 and a 200 day moving average of $138.34. Owens Corning has a twelve month low of $88.86 and a twelve month high of $156.28.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is currently 18.49%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of Owens Corning stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the sale, the insider now directly owns 39,994 shares in the company, valued at approximately $6,148,277.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gunner Smith sold 708 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the sale, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

Hedge funds have recently made changes to their positions in the business. First Capital Advisors Group LLC. purchased a new stake in shares of Owens Corning during the 2nd quarter valued at about $31,000. IFP Advisors Inc raised its position in Owens Corning by 78.1% in the 2nd quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock worth $32,000 after purchasing an additional 107 shares during the period. Power Corp of Canada purchased a new stake in Owens Corning in the 1st quarter worth about $34,000. Compass Wealth Management LLC purchased a new stake in Owens Corning in the 4th quarter worth about $34,000. Finally, Zions Bancorporation N.A. raised its position in Owens Corning by 611.0% in the 1st quarter. Zions Bancorporation N.A. now owns 583 shares of the construction company’s stock worth $53,000 after purchasing an additional 501 shares during the period. 90.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OC has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on shares of Owens Corning in a research report on Tuesday, October 17th. They set an “equal weight” rating and a $143.00 price target for the company. Truist Financial dropped their target price on shares of Owens Corning from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. JPMorgan Chase & Co. raised their target price on shares of Owens Corning from $116.00 to $161.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. Jefferies Financial Group dropped their target price on shares of Owens Corning from $180.00 to $170.00 in a report on Thursday, October 12th. Finally, Royal Bank of Canada dropped their target price on shares of Owens Corning from $168.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.87.

Get Our Latest Analysis on OC

Owens Corning Company Profile

(Get Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Earnings History for Owens Corning (NYSE:OC)

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