Owens Corning Inc (NYSE:OC) – Equities researchers at Seaport Global Securities issued their Q2 2018 earnings per share (EPS) estimates for Owens Corning in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Mccall forecasts that the construction company will earn $1.69 per share for the quarter.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share.
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Several other brokerages also recently commented on OC. SunTrust Banks, Inc. restated a “hold” rating on shares of Owens Corning in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Owens Corning from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Jefferies Group LLC restated a “buy” rating and issued a $72.00 price target on shares of Owens Corning in a research report on Sunday, July 9th. Stifel Nicolaus restated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Friday, September 1st. Finally, Barclays PLC set a $75.00 price target on shares of Owens Corning and gave the company a “hold” rating in a research report on Thursday, October 26th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $76.95.
Owens Corning (NYSE OC) traded up 1.10% during mid-day trading on Monday, reaching $82.39. 458,630 shares of the company’s stock traded hands. Owens Corning has a 52-week low of $46.45 and a 52-week high of $82.78. The company has a 50-day moving average of $77.83 and a 200-day moving average of $68.68. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 23.67 and a beta of 1.05.
Several institutional investors and hedge funds have recently made changes to their positions in the company. ARP Americas LLC increased its stake in shares of Owens Corning by 16.8% during the 3rd quarter. ARP Americas LLC now owns 5,553 shares of the construction company’s stock worth $430,000 after purchasing an additional 800 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Owens Corning by 22.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 255,780 shares of the construction company’s stock worth $19,785,000 after purchasing an additional 46,500 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Owens Corning during the 3rd quarter worth $202,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Owens Corning during the 3rd quarter worth $387,000. Finally, TIAA FSB acquired a new position in shares of Owens Corning during the 3rd quarter worth $3,022,000. Institutional investors own 98.75% of the company’s stock.
In other news, VP Kelly Schmidt sold 1,462 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $70.35, for a total transaction of $102,851.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Chambers sold 16,600 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the transaction, the insider now owns 39,957 shares in the company, valued at approximately $2,684,311.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,866 shares of company stock worth $15,644,970. 1.80% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. Owens Corning’s dividend payout ratio (DPR) is 23.88%.
Owens Corning Company Profile
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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