The Goldman Sachs Group Issues Positive Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price target lifted by The Goldman Sachs Group from $178.00 to $198.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

OC has been the subject of a number of other reports. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. UBS Group lifted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI raised their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $192.62.

Owens Corning Stock Up 1.6 %

OC stock traded up $3.02 during midday trading on Thursday, hitting $190.44. The company’s stock had a trading volume of 794,822 shares, compared to its average volume of 683,482. The firm’s 50-day moving average is $175.40 and its 200-day moving average is $173.46. 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 $121.08 and a 12 month high of $193.93. The company has a market cap of $16.56 billion, a PE ratio of 16.24, a P/E/G ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the company posted $4.15 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities research analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.32%.

Insider Buying and Selling 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 transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several large investors have recently made changes to their positions in OC. ST Germain D J Co. Inc. grew its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at approximately $31,000. Innealta Capital LLC purchased a new position in shares of Owens Corning in the 2nd quarter worth approximately $32,000. Tobam increased its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Quarry LP raised its holdings in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after buying an additional 144 shares during the period. 88.40% of the stock is owned by 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.