Owens Corning (NYSE:OC) – Equities researchers at KeyCorp upped their FY2016 earnings per share (EPS) estimates for shares of Owens Corning in a report issued on Monday. KeyCorp analyst K. Zener now anticipates that the brokerage will post earnings of $3.49 per share for the year, up from their previous forecast of $3.38. KeyCorp also issued estimates for Owens Corning’s Q4 2016 earnings at $0.58 EPS and FY2017 earnings at $3.61 EPS.

A number of other analysts also recently weighed in on the stock. Jefferies Group reissued a “buy” rating and set a $63.00 price target (up previously from $61.00) on shares of Owens Corning in a research report on Thursday, July 28th. Stifel Nicolaus raised their price target on shares of Owens Corning from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, September 28th. Vertical Group raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Thursday, October 27th. Finally, Vertical Research raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Owens Corning currently has a consensus rating of “Hold” and an average target price of $54.94.

Earnings History and Estimates for Owens Corning (NYSE:OC)

Owens Corning (NYSE:OC) opened at 51.26 on Wednesday. Owens Corning has a 52 week low of $38.96 and a 52 week high of $58.69. The firm has a 50-day moving average of $50.91 and a 200 day moving average of $51.82. The firm has a market capitalization of $5.81 billion, a PE ratio of 14.35 and a beta of 1.15.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Owens Corning had a net margin of 7.44% and a return on equity of 10.77%. Owens Corning’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 2nd. Investors of record on Monday, October 17th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, October 13th. Owens Corning’s payout ratio is currently 20.17%.

In related news, VP Kelly Schmidt sold 13,200 shares of Owens Corning stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $54.41, for a total value of $718,212.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Arnaud Genis sold 66,619 shares of Owens Corning stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $54.68, for a total value of $3,642,726.92. Following the completion of the transaction, the insider now directly owns 101,538 shares in the company, valued at approximately $5,552,097.84. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of OC. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Owens Corning by 14.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 380,703 shares of the company’s stock worth $20,325,000 after buying an additional 46,838 shares in the last quarter. Credit Suisse AG boosted its position in Owens Corning by 19.9% in the third quarter. Credit Suisse AG now owns 108,047 shares of the company’s stock valued at $5,768,000 after buying an additional 17,923 shares during the period. PCJ Investment Counsel Ltd. boosted its position in Owens Corning by 82.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 45,500 shares of the company’s stock valued at $2,429,000 after buying an additional 20,500 shares during the period. Verition Fund Management LLC acquired a new position in Owens Corning during the third quarter valued at $280,000. Finally, Dana Investment Advisors Inc. boosted its position in Owens Corning by 4,470.3% in the third quarter. Dana Investment Advisors Inc. now owns 460,049 shares of the company’s stock valued at $24,562,000 after buying an additional 449,983 shares during the period.

Owens Corning Company Profile

Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. 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.

5 Day Chart for NYSE:OC

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