Owens Corning Inc (NYSE:OC) – Research analysts at Northcoast Research decreased their Q3 2017 earnings per share estimates for shares of Owens Corning in a report issued on Thursday. Northcoast Research analyst K. Hocevar now forecasts that the construction company will post earnings per share of $1.24 for the quarter, down from their previous forecast of $1.26. Northcoast Research currently has a “Buy” rating and a $76.00 target price on the stock.
A number of other analysts have also recently commented on OC. Zacks Investment Research cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Nomura started coverage on Owens Corning in a research report on Wednesday, April 12th. They set a “buy” rating and a $74.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating and set a $67.00 price objective on shares of Owens Corning in a research report on Friday, April 21st. FBR & Co upped their price objective on Owens Corning from $61.00 to $63.00 and gave the company a “mkt perform” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC upped their price objective on Owens Corning from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. Owens Corning has a consensus rating of “Buy” and an average target price of $70.53.
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Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s dividend payout ratio (DPR) is 23.05%.
In other news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the transaction, the director now owns 50,906 shares of the company’s stock, valued at $3,288,527.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Personal Capital Advisors Corp purchased a new position in shares of Owens Corning during the first quarter worth approximately $227,000. CAPROCK Group Inc. purchased a new position in shares of Owens Corning during the first quarter worth approximately $294,000. V Wealth Management LLC raised its position in shares of Owens Corning by 3.9% in the first quarter. V Wealth Management LLC now owns 36,543 shares of the construction company’s stock worth $2,234,000 after buying an additional 1,364 shares during the last quarter. Courier Capital LLC purchased a new position in shares of Owens Corning during the first quarter worth approximately $209,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Owens Corning during the first quarter worth approximately $203,000.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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