Owens Corning (NYSE:OC) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning (NYSE:OC) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $183.00 price target on the construction company’s stock.

A number of other research firms also recently issued reports on OC. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company dropped their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $202.42.

Owens Corning Stock Performance

Shares of NYSE OC opened at $144.03 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $137.50 and a 12-month high of $214.53. The stock has a 50 day simple moving average of $162.96 and a 200-day simple moving average of $176.11. The company has a market cap of $12.32 billion, a PE ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52.

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

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. Owens Corning’s payout ratio is 37.70%.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OC. Stratos Wealth Partners LTD. increased its position in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after acquiring an additional 53 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after buying an additional 56 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Owens Corning by 3.3% during the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock valued at $305,000 after acquiring an additional 57 shares during the period. Retirement Guys Formula LLC increased its position in Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after buying an additional 60 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares during the period. 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.