Owens Corning Incorporated (OC): Today's Featured Materials & Construction Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

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 0.4%. By the end of trading, Owens Corning Incorporated rose 32 cents (1.1%) to $29.95 on average volume. Throughout the day, 2.2 million shares of Owens Corning Incorporated exchanged hands as compared to its average daily volume of 2.2 million shares. The stock ranged in a price between $29.55-$29.95 after having opened the day at $29.62 as compared to the previous trading day's close of $29.63. Other companies within the Materials & Construction industry that increased today were: Patrick Industries ( PATK), up 5.6%, Caesarstone Sdot-Yam ( CSTE), up 5%, MagneGas Corporation ( MNGA), up 3.9%, and Veolia Environnement ( VE), up 2.5%.
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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 $3.58 billion and is part of the industrial goods sector. The company has a P/E ratio of 22.2, equal to the average materials & construction industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 3.2% year to date as of the close of trading on Thursday. Currently there are seven analysts that rate Owens Corning Incorporated a buy, no analysts rate it a sell, and five 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 solid stock price performance, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

On the negative front, LSB Industries ( LXU), down 8%, Pure Cycle Corporation ( PCYO), down 4%, Skyline Corporation ( SKY), down 3.7%, and TRC Companies ( TRR), down 3%, were all laggards within the materials & construction industry with Beazer Homes USA ( BZH) being today's materials & construction industry laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the materials & construction industry could consider SPDR S&P Homebuilders ETF ( XHB) while those bearish on the materials & construction industry could consider ProShares Short Basic Materials Fd ( SBM).

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