Deutsche Bank Aktiengesellschaft Initiates Coverage on Owens Corning (NYSE:OC)

Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning (NYSE:OC) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $183.00 target price on the construction company’s stock.

A number of other research firms have also weighed in on OC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays decreased their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group reduced their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.42.

Owens Corning Stock Up 0.8 %

Shares of NYSE OC opened at $144.03 on Tuesday. 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 stock has a market capitalization of $12.32 billion, a P/E ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.52. The firm’s 50 day simple moving average is $162.96 and its two-hundred day simple moving average is $176.11. Owens Corning has a one year low of $137.50 and a one year high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating 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 business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company posted $3.21 EPS. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

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