Brokerages Set Owens Corning Inc (NYSE:OC) PT at $150.58

Owens Corning Inc (NYSE:OC) has earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $150.5833.

A number of equities analysts have weighed in on OC shares. Argus upgraded Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research note on Friday, January 9th. Citigroup lowered their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, UBS Group reduced their target price on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $131.88 on Tuesday. The company has a 50 day moving average price of $122.17 and a 200 day moving average price of $128.42. Owens Corning has a 52 week low of $97.53 and a 52 week high of $174.79. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $10.84 billion, a P/E ratio of -23.06, a PEG ratio of 2.82 and a beta of 1.36.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s payout ratio is -55.24%.

Hedge Funds Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. Ariel Investments LLC boosted its stake in shares of Owens Corning by 24.8% during the 2nd quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after purchasing an additional 27,871 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Owens Corning by 231.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after buying an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Owens Corning by 6.7% during the second quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock valued at $62,840,000 after buying an additional 28,814 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Owens Corning by 6.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock valued at $5,779,000 after buying an additional 2,421 shares during the period. Finally, Aviva PLC boosted its position in Owens Corning by 7.2% during the second quarter. Aviva PLC now owns 60,634 shares of the construction company’s stock worth $8,338,000 after acquiring an additional 4,091 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.