Owens Corning (NYSE:OC) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Owens Corning (NYSE:OC) in a research report released on Monday,Benzinga reports. They currently have a $212.00 price target on the construction company’s stock.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Loop Capital dropped their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Stock Up 0.8 %

NYSE OC opened at $145.11 on Monday. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.88 and a beta of 1.52. The company has a fifty day moving average of $169.45 and a two-hundred day moving average of $177.28. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping 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 business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned $3.21 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced 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 1.90%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Insider Activity at Owens Corning

In other 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 completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Hedge funds and other institutional investors have recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC grew its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning in the fourth quarter valued at approximately $34,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.