Argus Raises Owens Corning (NYSE:OC) Price Target to $182.00

Owens Corning (NYSE:OC) had its target price increased by Argus from $175.00 to $182.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

OC has been the topic of several other reports. Evercore ISI lifted their target price on shares of Owens Corning from $154.00 to $172.00 and gave the company an in-line rating in a research report on Thursday. Barclays downgraded Owens Corning from an overweight rating to an equal weight rating and decreased their price objective for the company from $170.00 to $160.00 in a report on Monday, February 12th. JPMorgan Chase & Co. dropped their target price on Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a report on Tuesday, February 20th. Truist Financial raised their target price on Owens Corning from $115.00 to $145.00 and gave the stock a hold rating in a research report on Thursday, February 15th. Finally, Loop Capital upped their price target on Owens Corning from $167.00 to $188.00 and gave the company a buy rating in a research report on Monday, April 1st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of Moderate Buy and an average price target of $168.21.

Owens Corning Price Performance

Shares of OC stock opened at $168.50 on Thursday. The company has a market capitalization of $14.60 billion, a P/E ratio of 13.64, a P/E/G ratio of 7.12 and a beta of 1.47. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Owens Corning has a 12 month low of $99.49 and a 12 month high of $173.65. The stock has a 50 day moving average of $159.88 and a two-hundred day moving average of $146.48.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.77 earnings per share. As a group, equities analysts expect that Owens Corning will post 14.74 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Activity at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gunner Smith sold 708 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the sale, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 over the last ninety days. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OC. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Owens Corning by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock worth $1,205,000 after buying an additional 67 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Owens Corning by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after acquiring an additional 69 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares during the period. Blue Trust Inc. boosted its position in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the last quarter. Finally, Caprock Group LLC grew its stake in shares of Owens Corning by 3.7% during the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after purchasing an additional 79 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.