Owens Corning (NYSE:OC) Price Target Lowered to $235.00 at UBS Group

Owens Corning (NYSE:OC) had its price objective cut by UBS Group from $245.00 to $235.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research firms also recently weighed in on OC. Citigroup dropped their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Wells Fargo & Company reduced their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group boosted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.00.

Owens Corning Price Performance

OC stock opened at $151.86 on Tuesday. The stock’s 50 day moving average is $175.72 and its two-hundred day moving average is $178.65. Owens Corning has a 52-week low of $148.62 and a 52-week high of $214.53. The company has a market capitalization of $13.03 billion, a PE ratio of 12.92, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 earnings per share. Analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of OC. Stratos Wealth Partners LTD. increased its stake in Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after buying an additional 53 shares during the period. Greenleaf Trust boosted its holdings in shares of Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after acquiring an additional 56 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Owens Corning by 3.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock valued at $305,000 after acquiring an additional 57 shares in the last quarter. Retirement Guys Formula LLC increased its stake in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after acquiring an additional 60 shares during the period. Finally, IFP Advisors Inc raised its holdings in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after purchasing an additional 62 shares in the last quarter. 88.40% of the stock is currently 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.