Owens Corning (NYSE:OC) Given New $235.00 Price Target at UBS Group

Owens Corning (NYSE:OC) had its target price decreased by UBS Group from $245.00 to $235.00 in a research report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued reports about the stock. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Evercore ISI boosted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.00.

Owens Corning Trading Down 2.5 %

OC opened at $158.75 on Tuesday. Owens Corning has a fifty-two week low of $145.50 and a fifty-two week high of $214.53. The firm has a market capitalization of $13.62 billion, a PE ratio of 13.51, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company’s 50-day moving average is $176.48 and its 200 day moving average is $179.01.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 earnings per share. As a group, research analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 23.49%.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Owens Corning

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the fourth quarter valued at about $28,000. Venturi Wealth Management LLC grew its stake in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning in the 4th quarter valued at $34,000. 88.40% of the stock is currently owned by 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.