Owens Corning (NYSE:OC) Price Target Raised to $195.00

Owens Corning (NYSE:OC) had its target price raised by Wells Fargo & Company from $175.00 to $195.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays dropped their price target on 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. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Owens Corning Stock Up 1.6 %

NYSE:OC opened at $190.44 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The firm has a market cap of $16.34 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.35 and a beta of 1.41. Owens Corning has a fifty-two week low of $121.08 and a fifty-two week high of $193.93. The firm has a 50-day simple moving average of $175.83 and a two-hundred day simple moving average of $173.74.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.15 earnings per share. Analysts predict that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.26%. Owens Corning’s payout ratio is currently 20.43%.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. grew its holdings in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. ORG Partners LLC purchased a new position in Owens Corning during the first quarter valued at $31,000. Innealta Capital LLC bought a new stake in Owens Corning in the 2nd quarter valued at $32,000. Tobam lifted its stake in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

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.