Barclays PLC set a $75.00 price objective on Owens Corning Inc (NYSE:OC) in a research note released on Thursday, October 26th. The brokerage currently has a hold rating on the construction company’s stock.
OC has been the topic of several other research reports. Royal Bank Of Canada lifted their target price on shares of Owens Corning from $79.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, October 26th. Wells Fargo & Company reiterated an outperform rating on shares of Owens Corning in a research report on Thursday, October 26th. Citigroup Inc. raised shares of Owens Corning from a sell rating to a neutral rating and set a $80.00 price target on the stock in a research note on Friday, October 20th. Credit Suisse Group set a $90.00 price target on shares of Owens Corning and gave the stock an outperform rating in a research note on Tuesday, October 17th. Finally, Evercore ISI reissued an outperform rating and issued a $80.00 price target (down from $88.00) on shares of Owens Corning in a research note on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $76.95.
Shares of Owens Corning (NYSE OC) traded down $0.57 during trading on Thursday, hitting $81.89. 663,400 shares of the company traded hands, compared to its average volume of 1,239,039. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. Owens Corning has a 12-month low of $49.80 and a 12-month high of $83.31. The stock has a market capitalization of $9,109.53, a PE ratio of 20.37, a PEG ratio of 1.43 and a beta of 1.08.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. analysts predict that Owens Corning will post 4.32 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Monday, October 16th were given a $0.20 dividend. The ex-dividend date was Friday, October 13th. This represents a $0.80 annualized dividend and a yield of 0.98%. Owens Corning’s dividend payout ratio (DPR) is 23.88%.
In other news, Chairman Michael H. Thaman sold 130,700 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the transaction, the chairman now directly owns 847,992 shares of the company’s stock, valued at approximately $63,557,000.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael C. Mcmurray sold 14,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the transaction, the chief financial officer now directly owns 40,903 shares in the company, valued at $3,129,897.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,266 shares of company stock valued at $14,529,782. 1.80% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Comerica Bank grew its stake in Owens Corning by 26.2% in the 1st quarter. Comerica Bank now owns 6,865 shares of the construction company’s stock valued at $417,000 after acquiring an additional 1,426 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in Owens Corning by 7.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 73,900 shares of the construction company’s stock valued at $4,535,000 after acquiring an additional 5,196 shares during the last quarter. FMR LLC grew its stake in Owens Corning by 33.6% in the 1st quarter. FMR LLC now owns 262,352 shares of the construction company’s stock valued at $16,100,000 after acquiring an additional 66,027 shares during the last quarter. Legal & General Group Plc grew its stake in Owens Corning by 40.2% in the 1st quarter. Legal & General Group Plc now owns 85,361 shares of the construction company’s stock valued at $5,238,000 after acquiring an additional 24,488 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Owens Corning in the 1st quarter valued at about $1,359,000. 98.00% of the stock is currently owned by institutional investors and hedge funds.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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