Owens Corning (NYSE:OC) PT Raised to $192.00

Owens Corning (NYSE:OC) had its target price increased by UBS Group from $169.00 to $192.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research analysts also recently commented on the company. Citigroup lifted their target price on Owens Corning from $150.00 to $169.00 and gave the stock a neutral rating in a report on Friday, April 5th. Evercore ISI increased 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 shares of Owens Corning from an overweight rating to an equal weight rating and dropped their price target for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada dropped their target price on shares of Owens Corning from $183.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $168.21.

Owens Corning Trading Up 2.1 %

NYSE OC opened at $168.50 on Thursday. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65. The business’s fifty day moving average is $159.88 and its 200 day moving average is $146.48. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $14.60 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 7.12 and a beta of 1.47.

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

Owens Corning Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of Owens Corning

Several hedge funds have recently made changes to their positions in the company. Lecap Asset Management Ltd. purchased a new stake in Owens Corning in the 4th quarter worth about $1,791,000. Voss Capital LLC purchased a new position in shares of Owens Corning in the fourth quarter worth about $5,929,000. Louisiana State Employees Retirement System bought a new stake in shares of Owens Corning in the fourth quarter valued at approximately $3,706,000. Federated Hermes Inc. lifted its stake in shares of Owens Corning by 11.6% during the 4th quarter. Federated Hermes Inc. now owns 530,802 shares of the construction company’s stock valued at $78,681,000 after buying an additional 55,263 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Owens Corning by 97.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock worth $3,110,000 after buying an additional 11,241 shares during the period. 88.40% of the stock is currently owned by institutional investors.

About Owens Corning

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.