Owens Corning (NYSE:OC) Price Target Cut to $210.00 by Analysts at Loop Capital

Owens Corning (NYSE:OC) had its target price lowered by Loop Capital from $215.00 to $210.00 in a research note issued to investors on Friday morning,Benzinga reports. Loop Capital currently has a buy rating on the construction company’s stock.

Several other equities research analysts also recently commented on the company. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI upped their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Finally, UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Trading Down 2.5 %

Shares of NYSE OC opened at $167.36 on Friday. The stock has a market cap of $14.36 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46. The firm has a 50 day moving average price of $186.88 and a two-hundred day moving average price of $177.17. 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 $138.70 and a 52-week high of $214.53.

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

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.65%. Owens Corning’s payout ratio is presently 23.49%.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated 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 represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its position in Owens Corning by 4.7% during the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after acquiring an additional 187,001 shares in the last quarter. Nordea Investment Management AB increased its position in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Pacer Advisors Inc. increased its position in Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after acquiring an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares in the last quarter. 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.