The Latest Breaking News from Owens Corning

The building materials industry is well-positioned for solid growth, primarily due to the substantial investments to improve infrastructure and the increasing demand for new homes. So, should you add industrial stocks Owens Corning (OC), Apogee Enterprises (APOG), and Quanex Building Products (NX) to your portfolio now? Keep reading.

Continual development of industries and increased adoption of AI in manufacturing is expected to drive growth in the industrial market. While the industry outlook may seem promising, should one invest in industrial stocks CRH (CRH), Owens Corning (OC), and CEMEX (CX)? Read more to find out.

Building and construction materials leader Owens Corning’s (OC) shares have been soaring in price and look poised to maintain the momentum. Let’s explore the trends of some of the company’s key metrics to understand why this stock could be worth adding to your portfolio. Keep reading.

Owens Corning shows improving price performance, earning an upgrade to its IBD Relative Strength Rating

Owens Corning Inc (NYSE:OC) has agreed to acquire Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois. Deal terms were not disclosed. Natural Polymers anticipates sales of $100 million in FY22. The company expects to maintain double-digit growth over the next several…

New home demand has deteriorated over the past few weeks due to the spike in mortgage rates, a sharp decline in consumer confidence and the weaker economic growth outlook, according to BofA Securities. BofA On Owens Corning

Owens Corning (NYSE:OC) reported first-quarter FY22 net sales growth of 23% year-over-year to $2.34 billion, beating the consensus of $2.23 billion. Sales by segments: Composites $714 million (+28% Y/Y), Insulation $859 million (+23% Y/Y), and Roofing $838 million (+18% Y/Y). Adjusted EPS was $2.84 (+59% Y/Y), beating the consensus of $2.43. Gross…

Owens Corning (NYSE:OC) has agreed with JR Plastics Corporation to acquire WearDeck, a composite decking, and structural lumber manufacturer. Deal terms were not disclosed. The acquisition supports OC’s strategy to strengthen its position in building and construction products. WearDeck products offer a durable solution for weather-resistant decking. WearDeck employs about 100 people…

Goldman Sachs reduced the price target on Coinbase Global, Inc. (NASDAQ: COIN) from $250 to $240. Coinbase shares rose 0.2% to $166.50 in pre-market trading.

Wells Fargo analyst Deepa Raghavan raised the price target on Owens Corning (NYSE:OC) to $105 (an upside of 7.6%) from $98 and maintained an Equal Weight rating on the shares. The analyst believes stock reaction is well deserved. Raghavan says that the shares' outperformance is likely reflective of strong outlooks, in keeping with recent themes…

Owens Corning (NYSE:OC) reported fourth-quarter FY21 net sales growth of 10.7% year-over-year to $2.13 billion, beating the consensus of $2.04 billion. Sales by segments: Composites $608 million (+11% Y/Y), Insulation $863 million (+19% Y/Y), and Roofing $712 million (+1% Y/Y). Adjusted EPS was $2.20 (+16% Y/Y), beating the consensus of $1.91. The gross margin…