Royal Bank of Canada Has Lowered Expectations for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price objective trimmed by Royal Bank of Canada from $224.00 to $212.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

Several other equities analysts have also issued reports on the company. Evercore ISI upped their price target 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. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Loop Capital lowered their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. UBS Group cut their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Trading Down 1.6 %

Shares of NYSE OC opened at $151.86 on Tuesday. Owens Corning has a 1-year low of $148.62 and a 1-year high of $214.53. The company has a 50-day moving average of $175.72 and a two-hundred day moving average of $178.65. The company has a market cap of $13.03 billion, a PE ratio of 12.92, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

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

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.82%. Owens Corning’s dividend payout ratio is 23.49%.

Insider Activity at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated 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 transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently bought and sold shares of OC. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter worth $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its holdings in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.