Owens Corning Incorporated (OC): Today's Featured Industrial Goods Loser

Owens Corning Incorporated ( OC) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods loser. The sector as a whole closed the day up 1.7%. By the end of trading, Owens Corning Incorporated fell 23 cents (-0.8%) to $27.39 on heavy volume. Throughout the day, 3.8 million shares of Owens Corning Incorporated exchanged hands as compared to its average daily volume of 2.3 million shares. The stock ranged in price between $27.22-$28.10 after having opened the day at $27.74 as compared to the previous trading day's close of $27.62. Other company's within the Industrial Goods sector that declined today were: Breeze-Eastern Corporation ( BZC), down 17%, Asia Pacific Wire & Cable Corp ( APWC), down 5.6%, Highway Holdings ( HIHO), down 4.4%, and China Ming Yang Wind Power Group ( MY), down 3.9%.

Owens Corning engages in the provision of composite and building materials systems worldwide. It operates in two segments, Composites and Building Materials. Owens Corning Incorporated has a market cap of $3.59 billion and is part of the materials & construction industry. The company has a P/E ratio of 17.8, equal to the average materials & construction industry P/E ratio and equal to the S&P 500 P/E ratio of 17.7. Shares are down 2.5% year to date as of the close of trading on Monday. Currently there are 10 analysts that rate Owens Corning Incorporated a buy, no analysts rate it a sell, and two rate it a hold.

TheStreet Ratings rates Owens Corning Incorporated as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

On the positive front, A123 Systems ( AONE), up 51.9%, PMFG ( PMFG), up 14.3%, India Globalization Capital ( IGC), up 12.4%, and Wowjoint Holdings ( BWOW), up 10.7%, were all gainers within the industrial goods sector with Deere ( DE) being today's featured industrial goods sector winner.

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).
null

If you liked this article you might like

First Leg Down of United Tech; Hurricanes -- Jim Cramer's Top Thoughts

Rebuilding Efforts From Hurricanes Harvey and Irma Make These 6 Stocks Must Buys

Irma to Bring Droves to Aisles of Home Depot; Teva Reveals Savior CEO - ICYMI

Owens Corning Rally Should Continue After This Pullback

Cramer: Hurricanes Will Break the Decline of the Auto and Housing Industries