Owens Corning (NYSE:OC) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Owens Corning Inc (NYSE:OC)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $123.82 and traded as high as $127.42. Owens Corning shares last traded at $125.3930, with a volume of 1,307,718 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OC shares. Zacks Research lowered Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 12th. DA Davidson set a $143.00 price target on Owens Corning in a research note on Friday, October 9th. Barclays cut their price objective on Owens Corning from $177.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Truist Financial reduced their price objective on shares of Owens Corning from $140.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. Finally, Citigroup raised their target price on shares of Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Hold” and an average price target of $142.07.

Owens Corning Stock Performance

The firm’s 50 day simple moving average is $123.82 and its 200-day simple moving average is $126.15. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of -15.56, a P/E/G ratio of 3.42 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the firm posted $4.21 earnings per share. Owens Corning’s revenue was up .3% compared to the same quarter last year. Analysts expect that Owens Corning Inc will post 9.39 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Monday, October 19th will be given a $0.79 dividend. The ex-dividend date is Monday, October 19th. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. Owens Corning’s dividend payout ratio is presently -39.21%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the sale, the insider owned 21,449 shares of the company’s stock, valued at $3,090,157.43. This trade represents a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Owens Corning

A number of hedge funds have recently modified their holdings of the stock. Tiptree Advisors LLC acquired a new stake in Owens Corning during the second quarter valued at $11,445,000. Nykredit A S purchased a new position in Owens Corning in the second quarter valued at about $166,083,000. Cibc World Market Inc. purchased a new position in Owens Corning in the second quarter valued at about $4,578,000. Bank of America Corp DE purchased a new position in Owens Corning in the second quarter valued at about $133,685,000. Finally, Empowered Funds LLC acquired a new position in Owens Corning in the 2nd quarter worth about $3,582,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Company Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.