Owens Corning (NYSE:OC) Stock Gets Price Target Trim from The Goldman Sachs Group

Owens Corning (NYSE:OC) had its price target trimmed by The Goldman Sachs Group from $169.00 to $128.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Several other research analysts also recently commented on OC. Wells Fargo & Company reduced their target price on Owens Corning from $172.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Truist Financial decreased their target price on Owens Corning from $140.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Royal Bank Of Canada cut Owens Corning from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $172.00 to $127.00 in a research note on Wednesday, October 7th. Wall Street Zen downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Citigroup lifted their price objective on shares of Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $143.36.

Owens Corning Trading Down 1.5%

Shares of NYSE:OC opened at $111.08 on Monday. Owens Corning has a 52-week low of $97.53 and a 52-week high of $159.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The company has a market capitalization of $8.78 billion, a P/E ratio of -13.78, a price-to-earnings-growth ratio of 2.65 and a beta of 1.32. The company has a 50-day simple moving average of $133.23 and a 200 day simple moving average of $129.22.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.21 earnings per share. Sell-side analysts forecast that Owens Corning will post 9.45 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Monday, October 19th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, October 19th. Owens Corning’s dividend payout ratio is currently -39.21%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the sale, the insider directly owned 21,449 shares in the company, valued at $3,090,157.43. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently made changes to their positions in OC. First Pacific Financial grew its holdings in Owens Corning by 2.3% in the 1st quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after buying an additional 85 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in Owens Corning by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after buying an additional 90 shares during the period. Basecamp Wealth Advisors LLC increased its position in Owens Corning by 3.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock worth $359,000 after buying an additional 97 shares during the period. Groupama Asset Managment lifted its holdings in shares of Owens Corning by 1.8% during the fourth quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock worth $689,000 after buying an additional 106 shares in the last quarter. Finally, HM Payson & Co. lifted its holdings in shares of Owens Corning by 203.6% during the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after buying an additional 112 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.