Owens Corning Incorporated ( OC) pushed the Materials & Construction industry higher today making it today's featured materials & construction winner. The industry as a whole closed the day down 0.6%. By the end of trading, Owens Corning Incorporated rose 36 cents (1.3%) to $29.06 on average volume. Throughout the day, 1.9 million shares of Owens Corning Incorporated exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in a price between $28.09-$29.60 after having opened the day at $28.54 as compared to the previous trading day's close of $28.70. Other companies within the Materials & Construction industry that increased today were: Texas Industries Inc ( TXI), up 9%, Goldfield ( GV), up 7.5%, Beazer Homes USA Inc ( BZH), up 7%, and PGT Inc ( PGTI), up 5%. Owens Corning, through its subsidiaries, provides composite and building materials systems worldwide. It operates in two segments, Composites and Building Materials. Owens Corning Incorporated has a market cap of $3.23 billion and is part of the industrial goods sector. The company has a P/E ratio of 26.7, equal to the average materials & construction industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are down 7.9% year to date as of the close of trading on Wednesday. TheStreet Ratings rates Owens Corning as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
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