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

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 ( OC) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods laggard. The sector as a whole closed the day down 2.4%. By the end of trading, Owens-Corning fell $1.87 (-4.7%) to $38.28 on average volume. Throughout the day, 2.5 million shares of Owens-Corning exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in price between $38.24-$40.24 after having opened the day at $40.05 as compared to the previous trading day's close of $40.15. Other companies within the Industrial Goods sector that declined today were: Frontline ( FRO), down 18.3%, India Globalization Capital ( IGC), down 9.3%, 3D Systems Corporation ( DDD), down 9%, and NACCO Industries ( NC), down 8.9%.
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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 has a market cap of $4.58 billion and is part of the materials & construction industry. Shares are up 4.7% year to date as of the close of trading on Friday. Currently there are nine analysts that rate Owens-Corning a buy, no analysts rate it a sell, and five 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 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.

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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