Owens Corning (NYSE:OC) Given New $192.00 Price Target at UBS Group

Owens Corning (NYSE:OC) had its target price raised by UBS Group from $169.00 to $192.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

OC has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price on Owens Corning from $164.00 to $163.00 and set a neutral rating on the stock in a report on Tuesday, February 20th. Loop Capital raised their price objective on Owens Corning from $167.00 to $188.00 and gave the stock a buy rating in a report on Monday, April 1st. Royal Bank of Canada decreased their price objective on Owens Corning from $183.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Truist Financial raised their price objective on Owens Corning from $115.00 to $145.00 and gave the stock a hold rating in a report on Thursday, February 15th. Finally, Evercore ISI raised their price objective on Owens Corning from $154.00 to $172.00 and gave the stock an in-line rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Owens Corning currently has an average rating of Moderate Buy and an average target price of $168.21.

Owens Corning Price Performance

Shares of NYSE:OC opened at $168.50 on Thursday. The business’s fifty day moving average price is $159.88 and its two-hundred day moving average price is $146.41. The stock has a market cap of $14.60 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 7.12 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.76. Owens Corning has a one year low of $99.49 and a one year high of $173.65.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.77 EPS. On average, analysts forecast that Owens Corning will post 14.74 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Insider Buying and Selling

In related news, insider Gunner Smith sold 7,442 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MV Capital Management Inc. raised its position in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. NBC Securities Inc. acquired a new stake in shares of Owens Corning during the first quarter valued at about $26,000. Contravisory Investment Management Inc. acquired a new stake in shares of Owens Corning during the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Owens Corning during the fourth quarter valued at about $27,000. Finally, Riverview Trust Co acquired a new stake in shares of Owens Corning during the first quarter valued at about $28,000. 88.40% of the stock is owned by hedge funds and other 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.