Owens Corning’s (OC) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Owens Corning (NYSE:OC) in a report released on Monday morning,Benzinga reports. They currently have a $212.00 price objective on the construction company’s stock.

Other analysts have also issued research reports about the stock. Barclays dropped their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Trading Up 1.9 %

NYSE OC opened at $147.60 on Monday. The company has a market cap of $12.63 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a 50-day moving average of $168.49 and a 200-day moving average of $176.90. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 EPS. As a group, equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new stake in Owens Corning in the 4th quarter worth about $28,000. Venturi Wealth Management LLC raised its holdings in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB increased its holdings in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the fourth quarter worth approximately $34,000. 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.