Owens Corning (NYSE:OC) Price Target Raised to $189.00

Owens Corning (NYSE:OC) had its target price boosted by Evercore ISI from $175.00 to $189.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an in-line rating on the construction company’s stock.

Several other equities research analysts also recently commented on OC. Loop Capital increased their price objective on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. UBS Group increased their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. 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. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $187.77.

Owens Corning Trading Up 1.5 %

NYSE:OC opened at $189.60 on Wednesday. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.44. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $170.05 and a two-hundred day moving average price of $171.93. The company has a market cap of $16.49 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 3.74 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating the consensus estimate of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.22 EPS. As a group, analysts expect that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.27%. Owens Corning’s dividend payout ratio is currently 20.32%.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the 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 in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Owens Corning

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Owens Corning by 59.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,173 shares of the construction company’s stock worth $30,392,000 after acquiring an additional 64,260 shares in the last quarter. Vest Financial LLC boosted its position in shares of Owens Corning by 35.7% during the 3rd quarter. Vest Financial LLC now owns 8,485 shares of the construction company’s stock worth $1,498,000 after acquiring an additional 2,233 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Owens Corning by 5.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 1,616 shares of the construction company’s stock worth $285,000 after acquiring an additional 83 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Owens Corning during the 3rd quarter worth approximately $216,000. Finally, Blue Trust Inc. boosted its position in shares of Owens Corning by 199.2% during the 3rd quarter. Blue Trust Inc. now owns 1,098 shares of the construction company’s stock worth $191,000 after acquiring an additional 731 shares in the last quarter. Institutional investors and hedge funds 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.