Owens Corning (NYSE:OC – Get Rating) insider Marcio A. Sandri sold 3,600 shares of Owens Corning stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $90.06, for a total value of $324,216.00. Following the transaction, the insider now owns 46,428 shares of the company’s stock, valued at approximately $4,181,305.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Owens Corning Stock Performance
OC stock traded up $1.31 during midday trading on Tuesday, reaching $89.63. 797,483 shares of the company’s stock traded hands, compared to its average volume of 1,031,978. The company has a 50-day moving average price of $85.05 and a two-hundred day moving average price of $85.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.77. Owens Corning has a 52 week low of $72.97 and a 52 week high of $101.12. The firm has a market capitalization of $8.38 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.
Owens Corning (NYSE:OC – Get Rating) last issued its earnings results on Wednesday, October 26th. The construction company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.38. Owens Corning had a net margin of 13.99% and a return on equity of 27.52%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the firm posted $2.52 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Owens Corning will post 12.67 EPS for the current year.
Owens Corning Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 3rd. Shareholders of record on Monday, October 17th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, October 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.56%. Owens Corning’s payout ratio is 10.30%.
Institutional Investors Weigh In On Owens Corning
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new position in shares of Owens Corning during the 1st quarter valued at $37,000. Envestnet Asset Management Inc. grew its position in shares of Owens Corning by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 84,384 shares of the construction company’s stock valued at $7,721,000 after purchasing an additional 4,087 shares in the last quarter. Stephens Inc. AR grew its position in shares of Owens Corning by 90.5% during the 1st quarter. Stephens Inc. AR now owns 4,522 shares of the construction company’s stock valued at $414,000 after purchasing an additional 2,148 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Owens Corning during the 1st quarter valued at $207,000. Finally, Advisor Group Holdings Inc. grew its position in shares of Owens Corning by 194.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 39,120 shares of the construction company’s stock valued at $2,985,000 after purchasing an additional 25,819 shares in the last quarter. Institutional investors own 93.64% of the company’s stock.
Analysts Set New Price Targets
OC has been the topic of a number of research analyst reports. StockNews.com downgraded Owens Corning from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 19th. Citigroup boosted their target price on Owens Corning from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Monday, October 10th. Credit Suisse Group cut their target price on Owens Corning from $98.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, October 27th. Deutsche Bank Aktiengesellschaft cut their target price on Owens Corning from $103.00 to $99.00 and set a “hold” rating on the stock in a research note on Thursday, October 20th. Finally, Bank of America raised shares of Owens Corning from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $82.00 to $95.00 in a report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Hold” and an average price target of $101.79.
Owens Corning Company Profile
Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.