Owens Corning (NYSE:OC) PT Raised to $197.00

Owens Corning (NYSE:OC) had its price objective raised by UBS Group from $192.00 to $197.00 in a research note released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

OC has been the topic of a number of other research reports. Argus lifted their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a buy rating in a research note on Thursday, April 25th. Barclays cut their target price on shares of Owens Corning from $190.00 to $189.00 and set an equal weight rating on the stock in a research note on Friday, July 12th. Citigroup raised shares of Owens Corning from a neutral rating to a buy rating and lifted their target price for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Evercore ISI cut their target price on shares of Owens Corning from $188.00 to $175.00 and set an in-line rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada lifted their target price on shares of Owens Corning from $192.00 to $201.00 and gave the company an outperform rating in a research note on Tuesday, May 21st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $184.23.

Owens Corning Trading Up 1.2 %

Owens Corning stock traded up $1.91 during trading hours on Wednesday, reaching $157.03. The stock had a trading volume of 752,849 shares, compared to its average volume of 673,026. The stock has a market cap of $13.61 billion, a PE ratio of 12.71, a PEG ratio of 1.62 and a beta of 1.42. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The company has a fifty day simple moving average of $173.72 and a 200-day simple moving average of $166.38.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.22 EPS. Analysts forecast that Owens Corning will post 15.63 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were paid a $0.60 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.53%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Transactions at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares in the company, valued at $11,195,310. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,360 shares of company stock worth $3,437,315. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Menard Financial Group LLC grew its stake in Owens Corning by 23.2% during the second quarter. Menard Financial Group LLC now owns 1,723 shares of the construction company’s stock valued at $299,000 after acquiring an additional 325 shares in the last quarter. Williams Financial LLC purchased a new position in Owens Corning during the second quarter valued at $285,000. Envestnet Asset Management Inc. grew its stake in Owens Corning by 60.2% during the second quarter. Envestnet Asset Management Inc. now owns 189,309 shares of the construction company’s stock valued at $32,887,000 after acquiring an additional 71,164 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Owens Corning during the second quarter valued at $31,818,000. Finally, Vest Financial LLC grew its stake in Owens Corning by 20.9% during the second quarter. Vest Financial LLC now owns 6,252 shares of the construction company’s stock valued at $1,086,000 after acquiring an additional 1,082 shares in the last quarter. 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.