Investment Analysts’ Recent Ratings Updates for Owens Corning (OC)

Owens Corning (NYSE: OC) has recently received a number of price target changes and ratings updates:

• 8/7/2024 – Owens Corning had its price target raised by analysts at Royal Bank of Canada from $211.00 to $213.00. They now have an “outperform” rating on the stock.
• 8/7/2024 – Owens Corning had its price target lowered by analysts at Evercore ISI from $188.00 to $175.00. They now have an “in-line” rating on the stock.
• 8/7/2024 – Owens Corning had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 8/7/2024 – Owens Corning was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 8/7/2024 – Owens Corning had its price target raised by analysts at UBS Group AG from $192.00 to $197.00. They now have a “buy” rating on the stock.
• 7/15/2024 – Owens Corning had its price target raised by analysts at Evercore ISI from $172.00 to $188.00. They now have an “in-line” rating on the stock.
• 7/12/2024 – Owens Corning had its price target lowered by analysts at Barclays PLC from $190.00 to $189.00. They now have an “equal weight” rating on the stock.
• 7/11/2024 – Owens Corning was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $191.00 price target on the stock, up previously from $178.00.
• 6/27/2024 – Owens Corning was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Owens Corning Trading Up 0.1 %

Shares of OC stock opened at $163.55 on Friday. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The stock’s fifty day moving average price is $170.91 and its two-hundred day moving average price is $166.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $14.22 billion, a PE ratio of 13.24, a P/E/G ratio of 3.15 and a beta of 1.42.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.22 earnings per share. Equities analysts predict that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Buying and Selling

In other news, VP Mari Doerfler sold 240 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Insiders sold a total of 6,240 shares of company stock worth $1,107,192 in the last three months. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. LSV Asset Management increased its position in Owens Corning by 0.7% during the 4th quarter. LSV Asset Management now owns 2,272,150 shares of the construction company’s stock valued at $336,801,000 after purchasing an additional 15,714 shares during the period. Pacer Advisors Inc. increased its position in shares of Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after buying an additional 446,073 shares during the period. Victory Capital Management Inc. raised its stake in Owens Corning by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,481,937 shares of the construction company’s stock worth $219,668,000 after buying an additional 35,530 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Owens Corning by 74.4% in the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Owens Corning by 7.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,057,518 shares of the construction company’s stock valued at $156,756,000 after acquiring an additional 75,594 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

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.