Owens Corning (NYSE:OC) PT Raised to $172.00 at Evercore ISI

Owens Corning (NYSE:OC) had its price target raised by Evercore ISI from $154.00 to $172.00 in a research note released on Thursday, Benzinga reports. They currently have an in-line rating on the construction company’s stock.

Several other analysts also recently commented on the stock. Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the company a buy rating in a research report on Monday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating on the stock in a research note on Tuesday, February 20th. UBS Group lowered their price objective on shares of Owens Corning from $175.00 to $169.00 and set a buy rating on the stock in a research note on Thursday, February 15th. Truist Financial raised their price target on shares of Owens Corning from $115.00 to $145.00 and gave the stock a hold rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada cut their price objective on shares of Owens Corning from $183.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $168.21.

Owens Corning Trading Up 1.4 %

Shares of OC stock opened at $167.30 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.76. The stock has a market capitalization of $14.56 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 6.98 and a beta of 1.47. The company has a 50 day moving average price of $158.86 and a 200 day moving average price of $145.94. Owens Corning has a fifty-two week low of $99.49 and a fifty-two week high of $173.65.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 EPS. Equities research analysts predict that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. Owens Corning’s payout ratio is presently 19.43%.

Insider Buying and Selling at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Owens Corning news, insider Gunner Smith sold 708 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the transaction, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MV Capital Management Inc. grew its holdings in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Owens Corning in the 1st quarter worth about $26,000. Contravisory Investment Management Inc. bought a new stake in Owens Corning in the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Owens Corning during the 4th quarter valued at about $27,000. Finally, Riverview Trust Co bought a new stake in shares of Owens Corning during the 1st quarter valued at about $28,000. 88.40% of the stock is currently owned by 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.