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 0.1%. By the end of trading, Owens-Corning fell $0.68 (-1.8%) to $37.87 on light volume. Throughout the day, 1,063,139 shares of Owens-Corning exchanged hands as compared to its average daily volume of 1,784,500 shares. The stock ranged in price between $37.78-$38.46 after having opened the day at $38.43 as compared to the previous trading day's close of $38.55. Other companies within the Industrial Goods sector that declined today were: Intellicheck Mobilisa ( IDN), down 10.0%, Ideal Power ( IPWR), down 9.0%, Frontline ( FRO), down 5.8% and Innovative Solutions and Support ( ISSC), down 4.9%.

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 $4.5 billion and is part of the materials & construction industry. The company has a P/E ratio of 69.8, above the S&P 500 P/E ratio of 17.7. Shares are up 4.2% year to date as of the close of trading on Wednesday. Currently there are 9 analysts that rate Owens-Corning a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Owens-Corning as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins.

On the positive front, India Globalization Capital ( IGC), up 24.4%, Guanwei Recycling ( GPRC), up 21.7%, Clean Diesel Technologies ( CDTI), up 15.3% and Fuel Tech ( FTEK), up 11.5% , were all gainers within the industrial goods sector with Illinois Tool Works ( ITW) being today's featured industrial goods sector leader.

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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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