Loop Capital Cuts Owens Corning (NYSE:OC) Price Target to $210.00

Owens Corning (NYSE:OC) had its price target cut by Loop Capital from $215.00 to $210.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities research analysts have also issued reports about the stock. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Trading Down 2.5 %

Shares of NYSE OC opened at $167.36 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $14.36 billion, a PE ratio of 14.24, a PEG ratio of 2.14 and a beta of 1.46. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock has a fifty day simple moving average of $187.14 and a 200-day simple moving average of $177.20.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. 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 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.15 EPS. On average, equities analysts forecast that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a $0.69 dividend. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.65%. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the 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 completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

A number of large investors have recently bought and sold shares of the business. Alpha DNA Investment Management LLC raised its holdings in shares of Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after buying an additional 2,544 shares during the last quarter. Penserra Capital Management LLC increased its position in Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares during the period. Janus Henderson Group PLC raised its stake in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 200 shares during the last quarter. Atria Investments Inc lifted its position in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after acquiring an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at approximately $1,046,000. 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.