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

Owens Corning (NYSE:OC) had its price objective boosted by UBS Group from $197.00 to $218.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts have also issued reports on OC. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Barclays lowered their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Evercore ISI boosted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Price Performance

NYSE OC opened at $190.44 on Thursday. The stock has a 50-day simple moving average of $175.83 and a 200 day simple moving average of $173.74. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The stock has a market capitalization of $16.34 billion, a PE ratio of 16.21, a P/E/G ratio of 2.35 and a beta of 1.41. Owens Corning has a twelve month low of $121.08 and a twelve month high of $193.93.

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 $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm earned $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts anticipate that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.26%. Owens Corning’s dividend payout ratio (DPR) is 20.43%.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated 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 owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated 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 owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. 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 corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. lifted its position in 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 valued at $26,000 after purchasing an additional 135 shares during the period. ORG Partners LLC acquired a new position in Owens Corning during the 1st quarter valued at about $31,000. Innealta Capital LLC acquired a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $32,000. Tobam raised its position in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Finally, Quarry LP raised its position in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.