Credit Suisse Group set a $90.00 price target on Owens Corning Inc (NYSE:OC) in a research note published on Tuesday, October 17th. The brokerage currently has an outperform rating on the construction company’s stock.
A number of other analysts have also recently weighed in on the company. Evercore ISI restated an outperform rating and issued a $80.00 price target (down from $88.00) on shares of Owens Corning in a research note on Wednesday, October 11th. Stifel Nicolaus reiterated a buy rating and issued a $83.00 price target on shares of Owens Corning in a report on Friday, September 1st. Nomura reiterated a neutral rating and issued a $79.00 price target on shares of Owens Corning in a report on Monday, September 11th. Wells Fargo & Company upgraded Owens Corning from a market perform rating to an outperform rating and boosted their price target for the company from $68.00 to $83.00 in a report on Wednesday, August 30th. Finally, SunTrust Banks, Inc. reaffirmed a hold rating on shares of Owens Corning in a research report on Tuesday, September 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $76.95.
Shares of Owens Corning (OC) traded up $1.07 on Tuesday, reaching $82.63. The company had a trading volume of 430,829 shares, compared to its average volume of 1,100,000. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9,150.00, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.43 and a beta of 1.08. Owens Corning has a 52 week low of $46.50 and a 52 week high of $83.31.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. sell-side analysts predict that Owens Corning will post 4.32 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, October 13th. Owens Corning’s dividend payout ratio (DPR) is presently 23.88%.
In other news, VP Kelly Schmidt sold 1,462 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $70.35, for a total value of $102,851.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arnaud Genis sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $70.75, for a total transaction of $424,500.00. Following the sale, the insider now owns 58,374 shares of the company’s stock, valued at $4,129,960.50. The disclosure for this sale can be found here. Insiders sold 196,266 shares of company stock valued at $14,529,782 over the last quarter. Insiders own 1.80% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Owens Corning by 1.8% during the second quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after buying an additional 190,866 shares in the last quarter. BlackRock Inc. boosted its holdings in Owens Corning by 4,010.8% during the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after buying an additional 6,338,177 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Owens Corning by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock worth $245,337,000 after buying an additional 27,809 shares in the last quarter. State Street Corp boosted its holdings in Owens Corning by 0.4% during the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after buying an additional 8,490 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Owens Corning by 21.2% during the second quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock worth $112,432,000 after buying an additional 294,400 shares in the last quarter. Hedge funds and other institutional investors own 98.00% of the company’s stock.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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