Owens Corning (NYSE:OC) Price Target Raised to $169.00 at Citigroup

Owens Corning (NYSE:OC - Free Report) had its price objective increased by Citigroup from $150.00 to $169.00 in a report released on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the construction company's stock.

Several other equities research analysts have also issued reports on the stock. Loop Capital raised their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a buy rating in a report on Monday. Evercore ISI lowered shares of Owens Corning from an outperform rating to an in-line rating and decreased their price objective for the company from $163.00 to $154.00 in a report on Thursday, February 15th. Barclays lowered shares of Owens Corning from an overweight rating to an equal weight rating and decreased their price objective for the company from $170.00 to $160.00 in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Owens Corning from a hold rating to a buy rating and lifted their price objective for the company from $130.00 to $180.00 in a report on Friday, December 8th. Finally, Truist Financial lifted their price objective on shares of Owens Corning from $115.00 to $145.00 and gave the company a hold rating in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $162.14.

Owens Corning Price Performance

Shares of NYSE:OC traded up $3.77 on Friday, reaching $172.72. The company's stock had a trading volume of 520,027 shares, compared to its average volume of 683,567. Owens Corning has a 52-week low of $92.31 and a 52-week high of $173.65. The company has a market cap of $15.03 billion, a P/E ratio of 13.16, a PEG ratio of 0.46 and a beta of 1.47. The company has a 50-day simple moving average of $155.50 and a 200 day simple moving average of $143.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same period last year, the company posted $2.49 EPS. The business's revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that Owens Corning will post 14.08 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning's dividend payout ratio is presently 18.29%.

Insiders Place Their Bets

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company's stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Brian Chambers sold 9,100 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares of the company's stock, valued at approximately $41,417,214.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,672 shares of company stock valued at $3,325,799. Insiders own 0.89% of the company's stock.

Institutional Trading of Owens Corning

A number of hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Owens Corning by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company's stock valued at $1,205,000 after purchasing an additional 67 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Owens Corning by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company's stock valued at $457,000 after purchasing an additional 69 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Owens Corning by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,011 shares of the construction company's stock valued at $150,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Owens Corning by 7.5% during the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company's stock valued at $184,000 after purchasing an additional 77 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock valued at $36,000 after purchasing an additional 78 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.