Owens Corning (NYSE:OC) Given New $189.00 Price Target at Evercore ISI

Owens Corning (NYSE:OC) had its price target hoisted by Evercore ISI from $175.00 to $189.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an in-line rating on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Loop Capital increased their target price on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Hold” and a consensus price target of $187.77.

Owens Corning Price Performance

Owens Corning stock opened at $187.95 on Wednesday. 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 12-month low of $109.95 and a 12-month high of $191.17. The firm has a market capitalization of $16.29 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 3.62 and a beta of 1.41. The firm has a 50-day moving average price of $168.75 and a 200-day moving average price of $171.64.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the firm earned $4.22 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.28%. Owens Corning’s payout ratio is currently 19.43%.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the 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 completion of the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred 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 directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after acquiring an additional 20,971 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Owens Corning by 14.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after purchasing an additional 14,011 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Owens Corning in the 1st quarter valued at approximately $997,000. Twin Tree Management LP grew its holdings in Owens Corning by 61.8% during the 1st quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock valued at $1,501,000 after buying an additional 3,436 shares during the last quarter. Finally, Verus Capital Partners LLC purchased a new position in Owens Corning during the first quarter worth $539,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.