Owens Corning (NYSE:OC) Price Target Lowered to $212.00 at Royal Bank of Canada

Owens Corning (NYSE:OC) had its target price decreased by Royal Bank of Canada from $224.00 to $212.00 in a report released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday. 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 research report on Thursday, November 7th. Wells Fargo & Company cut their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. 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, Owens Corning has an average rating of “Moderate Buy” and an average target price of $210.00.

Owens Corning Trading Down 2.5 %

Shares of Owens Corning stock opened at $158.75 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52 week low of $145.50 and a 52 week high of $214.53. The stock has a 50 day moving average price of $176.48 and a two-hundred day moving average price of $179.01. The stock has a market capitalization of $13.62 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

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

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.74%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

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 stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $3,336,265.50. Following the completion of 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 position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Owens Corning

Several hedge funds and other institutional investors have recently made changes to their positions in OC. Polar Asset Management Partners Inc. increased its position in shares of Owens Corning by 76.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock valued at $3,492,000 after acquiring an additional 8,900 shares during the period. Toronto Dominion Bank increased its position in shares of Owens Corning by 6.2% in the 4th quarter. Toronto Dominion Bank now owns 11,702 shares of the construction company’s stock valued at $1,993,000 after acquiring an additional 679 shares during the period. Vise Technologies Inc. increased its position in shares of Owens Corning by 96.6% in the 4th quarter. Vise Technologies Inc. now owns 2,434 shares of the construction company’s stock valued at $415,000 after acquiring an additional 1,196 shares during the period. Harmony Asset Management LLC increased its position in shares of Owens Corning by 392.3% in the 4th quarter. Harmony Asset Management LLC now owns 15,090 shares of the construction company’s stock valued at $2,570,000 after acquiring an additional 12,025 shares during the period. Finally, PharVision Advisers LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at $322,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.