Royal Bank of Canada Issues Positive Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price objective hoisted by Royal Bank of Canada from $213.00 to $217.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company boosted their target price on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. UBS Group boosted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Hold” and an average target price of $192.62.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $3.02 during trading on Thursday, reaching $190.44. The company’s stock had a trading volume of 794,822 shares, compared to its average volume of 683,482. The stock has a 50-day moving average price of $175.40 and a two-hundred day moving average price of $173.46. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a one year low of $121.08 and a one year high of $193.93. The stock has a market capitalization of $16.56 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.37. The firm 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 company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.15 EPS. As a group, sell-side analysts anticipate that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.32%.

Insider Activity at Owens Corning

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. grew its holdings in shares of 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 worth $26,000 after purchasing an additional 135 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Owens Corning during the 1st quarter worth $31,000. Innealta Capital LLC acquired a new stake in shares of Owens Corning during the 2nd quarter worth $32,000. Tobam boosted its stake in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Finally, Quarry LP boosted its stake in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after buying an additional 144 shares in the last quarter. 88.40% of the stock is 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.