Owens Corning (NYSE:OC) Price Target Cut to $200.00 by Analysts at Wells Fargo & Company

Owens Corning (NYSE:OC) had its target price decreased by Wells Fargo & Company from $225.00 to $200.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.

Several other brokerages have also recently weighed in on OC. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Loop Capital dropped their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. UBS Group upped their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, 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 note on Monday, January 6th. Four 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 has a consensus rating of “Moderate Buy” and an average price target of $207.00.

Owens Corning Trading Down 1.6 %

NYSE:OC opened at $151.86 on Tuesday. Owens Corning has a one year low of $148.62 and a one year high of $214.53. The company has a market cap of $13.03 billion, a PE ratio of 12.92, a PEG ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a 50-day moving average of $175.72 and a 200-day moving average of $178.65.

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

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on 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. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the fourth quarter valued at about $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB increased its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the 4th quarter worth approximately $34,000. Institutional investors own 88.40% of the company’s stock.

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.