Barclays Cuts Owens Corning (NYSE:OC) Price Target to $215.00

Owens Corning (NYSE:OC) had its price objective lowered by Barclays from $245.00 to $215.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

OC has been the topic of several other reports. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada lowered their price target on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $207.00.

Owens Corning Price Performance

NYSE OC opened at $153.96 on Wednesday. Owens Corning has a fifty-two week low of $148.78 and a fifty-two week high of $214.53. The stock’s 50-day moving average is $175.41 and its two-hundred day moving average is $178.64. 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 firm has a market cap of $13.21 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

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

Owens Corning Dividend Announcement

The company 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. This represents a $2.76 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred 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 directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value 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. The trade was 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 company insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently added to or reduced their stakes in the stock. Menard Financial Group LLC boosted its holdings in Owens Corning by 3.6% during the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock valued at $387,000 after purchasing an additional 80 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $25,218,000. Polar Asset Management Partners Inc. raised its stake in shares of Owens Corning by 76.7% in the fourth 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 last quarter. Toronto Dominion Bank raised its stake in shares of Owens Corning by 6.2% in the fourth 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 last quarter. Finally, Vise Technologies Inc. raised its stake in shares of Owens Corning by 96.6% in the fourth 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 last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

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.