Owens Corning (NYSE:OC) Price Target Increased to $182.00 by Analysts at Argus

Owens Corning (NYSE:OC) had its price objective hoisted by Argus from $175.00 to $182.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other analysts have also recently commented on OC. JPMorgan Chase & Co. reduced their price target on Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a report on Tuesday, February 20th. Citigroup raised their price objective on Owens Corning from $150.00 to $169.00 and gave the company a neutral rating in a research note on Friday, April 5th. Royal Bank of Canada dropped their price target on Owens Corning from $183.00 to $175.00 and set an outperform rating for the company in a research report on Thursday, February 15th. Barclays downgraded Owens Corning from an overweight rating to an equal weight rating and dropped their price target for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Finally, UBS Group raised their price target on Owens Corning from $169.00 to $192.00 and gave the stock a buy rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Owens Corning currently has an average rating of Moderate Buy and a consensus target price of $168.21.

Owens Corning Stock Up 1.4 %

Shares of NYSE OC opened at $167.30 on Thursday. The stock has a market cap of $14.56 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 6.98 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 52-week low of $99.49 and a 52-week high of $173.65. The business has a 50-day moving average price of $158.86 and a 200 day moving average price of $145.94.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $2.77 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 13.92 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s payout ratio is currently 19.43%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the transaction, the insider now owns 36,140 shares in the company, valued at $5,384,498.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,672 shares of company stock worth $3,325,799. 0.89% of the stock is owned by insiders.

Institutional Trading of Owens Corning

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. grew its holdings in shares of Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning during the first quarter worth approximately $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning during the fourth quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Owens Corning during the fourth quarter worth approximately $27,000. Finally, Riverview Trust Co acquired a new position in shares of Owens Corning during the first quarter worth approximately $28,000. 88.40% of the stock is 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.