UBS Group Cuts Owens Corning (NYSE:OC) Price Target to $235.00

Owens Corning (NYSE:OC) had its price objective lowered by UBS Group from $245.00 to $235.00 in a research note published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

A number of other equities research analysts also recently commented on the stock. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI upped their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $207.00.

Owens Corning Trading Down 1.6 %

OC opened at $151.86 on Tuesday. The business has a fifty day moving average price of $175.72 and a 200 day moving average price of $178.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 12 month low of $148.62 and a 12 month high of $214.53. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.88 and a beta of 1.46.

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

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OC. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $28,000. Venturi Wealth Management LLC grew its position in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB raised its stake in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning during the fourth quarter worth $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.