Owens Corning (NYSE:OC) Given New $218.00 Price Target at UBS Group

Owens Corning (NYSE:OC) had its price objective increased by UBS Group from $197.00 to $218.00 in a research note published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

A number of other research analysts also recently commented on OC. Royal Bank of Canada upped their price objective on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and increased their price objective for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Wells Fargo & Company increased their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of “Hold” and an average target price of $192.62.

Owens Corning Trading Up 2.4 %

Shares of NYSE OC traded up $4.42 during trading on Thursday, hitting $191.84. 439,078 shares of the company were exchanged, compared to its average volume of 681,843. The firm has a market capitalization of $16.68 billion, a PE ratio of 16.24, a P/E/G ratio of 2.20 and a beta of 1.41. Owens Corning has a 12-month low of $121.08 and a 12-month high of $193.93. The company has a fifty day moving average price of $175.40 and a 200-day moving average price of $173.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 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 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.15 earnings per share. As a group, equities research analysts expect that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.32%.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Marcio A. Sandri sold 3,051 shares of the business’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 completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated 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 owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after acquiring an additional 464,981 shares during the period. Pacer Advisors Inc. increased its position in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after purchasing an additional 446,073 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Owens Corning by 2,813.6% in the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after acquiring an additional 365,853 shares in the last quarter. Swedbank AB purchased a new position in shares of Owens Corning in the first quarter valued at $60,424,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Owens Corning in the second quarter valued at $35,970,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Company Profile

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.