Owens Corning (NYSE:OC) Receives $201.75 Consensus PT from Brokerages

Shares of Owens Corning (NYSE:OC) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $201.75.

A number of equities analysts recently issued reports on OC shares. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Evercore ISI boosted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th.

Owens Corning Trading Up 2.7 %

NYSE OC opened at $179.36 on Monday. The stock has a market capitalization of $15.39 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.14 and a beta of 1.46. The business has a 50 day simple moving average of $186.51 and a 200 day simple moving average of $177.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $138.70 and a one year high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the business posted $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Activity

In other news, 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 value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Alpha DNA Investment Management LLC raised its stake in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares during the period. Penserra Capital Management LLC increased its position 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. Janus Henderson Group PLC lifted its holdings 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 worth $1,189,000 after buying an additional 200 shares in the last quarter. Atria Investments Inc boosted its position in shares of Owens Corning by 93.3% in the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in Owens Corning during the third quarter valued at approximately $1,046,000. 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.