Owens Corning (NYSE:OC) PT Raised to $215.00 at Loop Capital

Owens Corning (NYSE:OC - Free Report) had its price target hoisted by Loop Capital from $188.00 to $215.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the construction company's stock.

OC has been the subject of a number of other research reports. Citigroup increased their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a neutral rating in a research note on Friday, April 5th. The Goldman Sachs Group restated a neutral rating and set a $187.00 price target on shares of Owens Corning in a research note on Monday. Jefferies Financial Group initiated coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a buy rating and a $215.00 price objective on the stock. StockNews.com downgraded Owens Corning from a strong-buy rating to a buy rating in a research report on Wednesday. Finally, Argus upped their price target on Owens Corning from $175.00 to $182.00 and gave the company a buy rating in a research report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Owens Corning has a consensus rating of Hold and a consensus target price of $179.00.

Owens Corning Stock Performance

NYSE OC traded up $2.07 during trading on Friday, hitting $177.70. The company's stock had a trading volume of 1,937,172 shares, compared to its average volume of 657,631. Owens Corning has a 52 week low of $109.95 and a 52 week high of $184.00. The firm has a market cap of $15.40 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 5.34 and a beta of 1.46. The firm has a 50 day moving average price of $174.28 and a 200 day moving average price of $160.39. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $2.77 earnings per share. Owens Corning's revenue was down 1.3% compared to the same quarter last year. Equities research analysts forecast that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.35%. Owens Corning's payout ratio is 19.43%.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 9,697 shares of the business's stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the sale, the insider now owns 62,895 shares in the company, valued at $11,195,310. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Owens Corning news, insider Monaco Nicolas Del sold 3,423 shares of the company's stock in a transaction 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 in the company, valued at approximately $2,008,405.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 9,697 shares of the firm's stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the transaction, the insider now owns 62,895 shares in the company, valued at $11,195,310. The disclosure for this sale can be found here. Insiders sold a total of 16,360 shares of company stock valued at $2,916,365 over the last quarter. Corporate insiders own 0.89% of the company's stock.

Hedge Funds Weigh In On Owens Corning

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in Owens Corning by 66.0% during the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company's stock worth $31,692,000 after purchasing an additional 84,958 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Owens Corning by 11.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company's stock worth $6,348,000 after purchasing an additional 4,259 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in Owens Corning by 452.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company's stock worth $2,835,000 after purchasing an additional 15,667 shares in the last quarter. EMG Holdings L.P. acquired a new stake in shares of Owens Corning in the 4th quarter valued at about $5,336,000. Finally, Bridgefront Capital LLC acquired a new stake in Owens Corning in the 4th quarter valued at approximately $910,000. 88.40% of the stock is owned by institutional investors.

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.