Owens Corning (NYSE:OC) Price Target Raised to $198.00

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

A number of other analysts have also recently commented on OC. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Barclays cut their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Trading Up 1.6 %

NYSE:OC traded up $3.02 during trading hours on Thursday, hitting $190.44. 796,320 shares of the company were exchanged, compared to its average volume of 697,772. The company has a fifty day simple moving average of $175.83 and a 200 day simple moving average of $173.68. Owens Corning has a one year low of $121.08 and a one year high of $193.93. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating 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 business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business posted $4.15 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Sell-side analysts expect that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on 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 transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred 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 owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in shares of Owens Corning in the first quarter worth $105,000. ORG Partners LLC bought a new position in Owens Corning in the 1st quarter worth about $31,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Owens Corning by 14.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,002 shares of the construction company’s stock valued at $668,000 after acquiring an additional 519 shares in the last quarter. BOS Asset Management LLC bought a new stake in shares of Owens Corning during the 1st quarter valued at about $247,000. Finally, Atomi Financial Group Inc. bought a new stake in Owens Corning during the first quarter valued at approximately $729,000. 88.40% of the stock is currently owned by hedge funds and other 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.