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Owens-Corning Inc. (OC): Today's Featured Industrial Goods Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Owens-Corning (OC) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods laggard. The sector as a whole closed the day up 0.5%. By the end of trading, Owens-Corning fell $0.57 (-1.4%) to $39.95 on average volume. Throughout the day, 1,757,426 shares of Owens-Corning exchanged hands as compared to its average daily volume of 1,876,400 shares. The stock ranged in price between $39.94-$40.63 after having opened the day at $40.56 as compared to the previous trading day's close of $40.52. Other companies within the Industrial Goods sector that declined today were: Bonso Electronics International (BNSO), down 10.4%, Industrial Services of America (IDSA), down 7.5%, Vertex Energy (VTNR), down 6.6% and Hydrogenics Corporation (HYGS), down 5.2%.

Owens Corning produces and sells glass fiber reinforcements and other materials for composite systems; and residential and commercial building materials worldwide. It operates in two segments, Composites and Building Materials. Owens-Corning has a market cap of $4.7 billion and is part of the materials & construction industry. Shares are up 7.4% year to date as of the close of trading on Friday. Currently there are 9 analysts that rate Owens-Corning a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Owens-Corning as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, Exide Technologies (XIDE), up 50.4%, China Advanced Construction Materials Group (CADC), up 40.0%, Ecotality (ECTY), up 15.0% and China Yuchai International (CYD), up 10.5%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR (XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 (DOG).

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