Owens Corning (NYSE:OC) Price Target Lowered to $200.00 at Wells Fargo & Company

Owens Corning (NYSE:OC) had its target price cut by Wells Fargo & Company from $225.00 to $200.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other analysts have also recently weighed in on OC. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group increased their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI increased 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. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.00.

Owens Corning Stock Down 2.5 %

OC opened at $158.75 on Tuesday. Owens Corning has a one year low of $145.50 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a market capitalization of $13.62 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The business’s 50-day simple moving average is $176.48 and its 200-day simple moving average is $179.01.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 earnings per share. Analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

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

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OC. Creative Planning increased its stake in Owens Corning by 16.4% in the third quarter. Creative Planning now owns 9,789 shares of the construction company’s stock valued at $1,728,000 after purchasing an additional 1,379 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Owens Corning in the 3rd quarter valued at about $156,000. Forsta AP Fonden increased its stake in shares of Owens Corning by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock valued at $4,395,000 after acquiring an additional 3,900 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Owens Corning by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock worth $1,199,000 after acquiring an additional 211 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.