Owens Corning Inc (NYSE:OC) – Equities researchers at Seaport Global Securities issued their Q2 2018 EPS estimates for shares of Owens Corning in a research report issued on Wednesday. Seaport Global Securities analyst M. Mccall expects that the construction company will post earnings of $1.69 per share for the quarter.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year.
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Several other research firms also recently commented on OC. SunTrust Banks, Inc. reissued a “hold” rating on shares of Owens Corning in a research note on Tuesday, September 12th. BidaskClub upgraded Owens Corning from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Jefferies Group LLC restated a “buy” rating and issued a $72.00 target price on shares of Owens Corning in a report on Sunday, July 9th. Stifel Nicolaus restated a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a report on Friday, September 1st. Finally, Barclays PLC set a $75.00 target price on Owens Corning and gave the company a “hold” rating in a report on Thursday, October 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $76.95.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, October 13th. Owens Corning’s dividend payout ratio (DPR) is presently 23.88%.
In other news, VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was 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 firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $67.18, for a total value of $1,115,188.00. Following the sale, the insider now directly owns 39,957 shares in the company, valued at approximately $2,684,311.26. The disclosure for this sale can be found here. Insiders have sold a total of 212,866 shares of company stock worth $15,644,970 in the last three months. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Owens Corning by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after acquiring an additional 190,866 shares in the last quarter. BlackRock Inc. raised its position in shares of Owens Corning by 4,010.8% during the 1st quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after acquiring an additional 6,338,177 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Owens Corning by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock worth $245,337,000 after acquiring an additional 27,809 shares in the last quarter. State Street Corp raised its position in shares of Owens Corning by 0.4% during the 1st quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after acquiring an additional 8,490 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Owens Corning by 21.2% during the 2nd quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock worth $112,432,000 after acquiring an additional 294,400 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.
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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