Owens Corning (NYSE:OC) had its price target upped by Royal Bank of Canada to $65.00 in a research report report published on Monday, The Fly reports. They currently have an outperform rating on the construction company’s stock.
A number of other equities research analysts have also weighed in on OC. Seaport Global Securities upgraded Owens Corning from a sell rating to a neutral rating in a research note on Thursday, June 27th. Zacks Investment Research upgraded Triple-S Management from a hold rating to a buy rating and set a $26.00 price target on the stock in a research note on Monday, April 29th. Barclays restated a buy rating and set a $65.00 price target on shares of Owens Corning in a research note on Monday, July 1st. Nomura restated a neutral rating and set a $48.00 price target (down previously from $70.00) on shares of Owens Corning in a research note on Thursday, May 16th. Finally, ValuEngine lowered WideOpenWest from a hold rating to a sell rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $58.34.
OC traded down $0.48 on Monday, hitting $55.29. The company had a trading volume of 627,696 shares, compared to its average volume of 1,530,688. The company has a fifty day simple moving average of $52.36. Owens Corning has a 12-month low of $40.64 and a 12-month high of $67.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.83 and a quick ratio of 0.96. The stock has a market cap of $6.02 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Owens Corning had a net margin of 7.07% and a return on equity of 12.10%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned $0.80 EPS. Owens Corning’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 4.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Tuesday, July 16th will be given a $0.22 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a yield of 1.59%. Owens Corning’s dividend payout ratio is currently 17.81%.
In related news, insider Julian Francis sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $51.51, for a total value of $30,906.00. Following the sale, the insider now owns 76,662 shares in the company, valued at $3,948,859.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kelly Schmidt sold 2,438 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $53.03, for a total value of $129,287.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,938 shares of company stock worth $2,114,034. 1.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV lifted its holdings in Owens Corning by 1.9% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 11,580 shares of the construction company’s stock valued at $546,000 after acquiring an additional 215 shares during the period. Sage Capital Advisors llc lifted its holdings in Owens Corning by 0.8% in the first quarter. Sage Capital Advisors llc now owns 30,401 shares of the construction company’s stock valued at $1,432,000 after acquiring an additional 250 shares during the period. Penserra Capital Management LLC acquired a new position in Owens Corning in the first quarter valued at approximately $26,000. MBM Wealth Consultants LLC lifted its holdings in Owens Corning by 9.0% in the first quarter. MBM Wealth Consultants LLC now owns 7,671 shares of the construction company’s stock valued at $361,000 after acquiring an additional 633 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Owens Corning by 4.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 16,788 shares of the construction company’s stock valued at $791,000 after acquiring an additional 648 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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