Owens Corning (NYSE:OC) Price Target Lowered to $215.00 at Barclays

Owens Corning (NYSE:OC) had its price target trimmed by Barclays from $245.00 to $215.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

OC has been the subject of a number of other research reports. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group cut their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group increased their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company decreased their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Stock Performance

Shares of OC opened at $153.92 on Wednesday. Owens Corning has a 1 year low of $147.20 and a 1 year high of $214.53. The stock has a market capitalization of $13.20 billion, a PE ratio of 13.10, a PEG ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a 50-day simple moving average of $176.07 and a 200-day simple moving average of $178.84.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp raised its stake in Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after purchasing an additional 624 shares during the last quarter. Alpha DNA Investment Management LLC grew its holdings in shares of Owens Corning by 147.4% during the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after buying an additional 200 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after buying an additional 1,643 shares during the period. Finally, Atria Investments Inc boosted its position in Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after acquiring an additional 6,373 shares during the last quarter. 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.