Brokerages Set Owens Corning (NYSE:OC) Price Target at $183.92

Owens Corning (NYSE:OC) has been given an average rating of “Moderate Buy” by the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $183.92.

OC has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Owens Corning from $172.00 to $188.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. StockNews.com raised shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Finally, Argus upped their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, April 25th.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Monaco Nicolas Del sold 3,423 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the sale, the insider now owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Insiders sold 19,360 shares of company stock valued at $3,437,315 over the last quarter. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several hedge funds have recently modified their holdings of OC. Pacer Advisors Inc. increased its holdings in shares of Owens Corning by 6,116.6% during the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after buying an additional 819,201 shares in the last quarter. Norges Bank acquired a new stake in shares of Owens Corning during the fourth quarter worth approximately $118,251,000. Nordea Investment Management AB increased its holdings in shares of Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after buying an additional 533,910 shares in the last quarter. Swedbank AB acquired a new stake in shares of Owens Corning during the first quarter worth approximately $60,424,000. Finally, Guinness Asset Management LTD bought a new stake in shares of Owens Corning during the second quarter valued at approximately $30,708,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Up 2.5 %

OC stock opened at $180.09 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company has a 50-day moving average of $175.56 and a two-hundred day moving average of $165.14. The stock has a market capitalization of $15.61 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.