Evercore ISI Issues Positive Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price target boosted by Evercore ISI from $189.00 to $196.00 in a research report released on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays cut their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, UBS Group upped their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $192.62.

Owens Corning Price Performance

OC stock traded up $3.02 on Thursday, hitting $190.44. 794,791 shares of the company’s stock traded hands, compared to its average volume of 683,482. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 2.20 and a beta of 1.41. Owens Corning has a 1-year low of $121.08 and a 1-year high of $193.93. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average of $175.40 and a 200-day moving average of $173.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.15 EPS. On average, analysts forecast that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.32%.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ST Germain D J Co. Inc. lifted its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. ORG Partners LLC bought a new stake in Owens Corning in the first quarter valued at about $31,000. Innealta Capital LLC bought a new stake in Owens Corning in the second quarter valued at about $32,000. Tobam raised its position in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Quarry LP boosted its holdings in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares in the last quarter. Institutional investors 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.