JPMorgan Chase & Co. Cuts Owens Corning (NYSE:OC) Price Target to $176.00

Owens Corning (NYSE:OC) had its price objective cut by JPMorgan Chase & Co. from $200.00 to $176.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

OC has been the topic of a number of other research reports. Barclays reduced their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI upped their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Trading Down 2.2 %

Shares of OC stock opened at $145.66 on Tuesday. The firm has a market capitalization of $12.46 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a twelve month low of $140.94 and a twelve month high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $173.97 and its 200 day simple moving average is $178.51.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 EPS. As a group, sell-side analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is 37.70%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. acquired a new position in Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC raised its stake in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB raised 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 worth $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning in the fourth quarter worth approximately $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.