Owens Corning (NYSE:OC) VP Mari Doerfler Sells 1,926 Shares of Stock

Owens Corning Inc (NYSE:OC) VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Owens Corning Stock Down 0.1%

OC stock opened at $119.75 on Wednesday. The stock has a market capitalization of $9.64 billion, a P/E ratio of -18.12, a P/E/G ratio of 2.27 and a beta of 1.35. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The firm has a 50-day simple moving average of $113.69 and a 200-day simple moving average of $116.83. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.97 earnings per share. Equities analysts forecast that Owens Corning Inc will post 9.12 earnings per share for the current fiscal year.

Institutional Trading of Owens Corning

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Owens Corning by 19.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,154 shares of the construction company’s stock worth $991,000 after purchasing an additional 1,509 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Owens Corning in the 1st quarter worth $30,000. MWA Asset Management acquired a new stake in shares of Owens Corning in the 1st quarter worth $256,000. Dimensional Fund Advisors LP lifted its stake in shares of Owens Corning by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after acquiring an additional 188,211 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new stake in shares of Owens Corning in the 1st quarter worth $64,102,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OC. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Truist Financial upped their target price on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Royal Bank Of Canada increased their price objective on shares of Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Bank of America dropped their price objective on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.82.

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.