Owens Corning (NYSE:OC) Given New $195.00 Price Target at Wells Fargo & Company

Owens Corning (NYSE:OC) had its target price increased by Wells Fargo & Company from $175.00 to $195.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

OC has been the subject of a number of other research reports. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and upped their price objective for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Barclays decreased their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Owens Corning presently has a consensus rating of “Hold” and a consensus target price of $192.62.

Owens Corning Stock Performance

Shares of OC traded up $3.02 during mid-day trading on Thursday, reaching $190.44. The company’s stock had a trading volume of 794,791 shares, compared to its average volume of 683,482. The business has a 50-day simple moving average of $175.40 and a two-hundred day simple moving average of $173.46. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The stock has a market cap of $16.56 billion, a P/E ratio of 16.24, a PEG ratio of 2.20 and a beta of 1.41. Owens Corning has a 1-year low of $121.08 and a 1-year high of $193.93.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.37. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.15 earnings per share. As a group, equities research analysts anticipate that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.26%. Owens Corning’s payout ratio is presently 20.32%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds have recently made changes to their positions in the company. ST Germain D J Co. Inc. lifted its stake in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Owens Corning in the first quarter valued at $31,000. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the second quarter valued at $32,000. Tobam lifted its holdings in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the period. 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.