Owens Corning (NYSE:OC) Insider Sells $129,663.00 in Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the sale, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Trading Down 3.1%

Owens Corning stock traded down $4.34 during mid-day trading on Tuesday, hitting $133.81. The company’s stock had a trading volume of 1,281,854 shares, compared to its average volume of 1,246,655. The firm has a market capitalization of $10.58 billion, a PE ratio of -16.60, a price-to-earnings-growth ratio of 2.15 and a beta of 1.32. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The stock’s fifty day moving average is $145.43 and its two-hundred day moving average is $127.78.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business earned $4.21 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts anticipate that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is presently -39.21%.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently bought and sold shares of OC. BNP Paribas Financial Markets boosted its stake in shares of Owens Corning by 178.2% in the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after purchasing an additional 119,566 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Owens Corning during the 1st quarter worth approximately $2,576,000. Tiptree Advisors LLC purchased a new stake in Owens Corning during the 2nd quarter worth approximately $11,445,000. Raiffeisen Bank International AG lifted its holdings in Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after buying an additional 38,885 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in Owens Corning by 10.8% during the 4th quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after buying an additional 23,873 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on OC. DA Davidson initiated coverage on shares of Owens Corning in a research report on Monday, August 24th. They issued a “buy” rating and a $190.00 target price on the stock. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Finally, Truist Financial set a $198.00 target price on shares of Owens Corning in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $165.31.

Owens Corning Company Profile

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.