Owens Corning (NYSE:OC) Given New $207.00 Price Target at Citigroup

Owens Corning (NYSE:OC) had its price objective trimmed by Citigroup from $212.00 to $207.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other research firms also recently commented on OC. Evercore ISI raised their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $202.17.

Owens Corning Stock Down 0.6 %

Shares of NYSE OC opened at $171.04 on Monday. 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 $14.67 billion, a PE ratio of 14.56, a P/E/G ratio of 2.14 and a beta of 1.46. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The business’s fifty day moving average price is $187.70 and its 200-day moving average price is $177.35.

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

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, January 6th. Owens Corning’s payout ratio is currently 23.49%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on 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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OC. 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 buying an additional 187,001 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the period. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after purchasing an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after purchasing an additional 424,786 shares during 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.