Owens Corning Inc (NYSE:OC) insider Brian Chambers sold 16,600 shares of Owens Corning stock in a transaction on Friday, August 4th. The shares were sold at an average price of $67.18, for a total value of $1,115,188.00. Following the completion of the transaction, the insider now owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Owens Corning Inc (OC) traded up 0.40% during midday trading on Friday, hitting $67.10. The stock had a trading volume of 855,127 shares. The stock’s 50-day moving average is $66.65 and its 200-day moving average is $62.53. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $68.88. The company has a market capitalization of $7.46 billion, a PE ratio of 19.28 and a beta of 1.11.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. Equities research analysts forecast that Owens Corning Inc will post $4.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, July 13th. Owens Corning’s payout ratio is currently 23.05%.
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OC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, June 28th. Northcoast Research set a $76.00 target price on Owens Corning and gave the stock a “buy” rating in a research report on Tuesday, June 27th. BidaskClub upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Royal Bank Of Canada restated a “buy” rating and set a $67.00 target price on shares of Owens Corning in a research report on Friday, April 21st. Finally, Instinet restated a “buy” rating and set a $74.00 target price on shares of Owens Corning in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Owens Corning currently has an average rating of “Buy” and a consensus price target of $70.53.
A number of hedge funds have recently made changes to their positions in the company. Creative Planning increased its stake in shares of Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after buying an additional 1,043 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its stake in shares of Owens Corning by 457.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock valued at $141,000 after buying an additional 1,888 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Owens Corning by 45.3% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock valued at $157,000 after buying an additional 798 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after buying an additional 232 shares during the last quarter. Finally, First Bank & Trust increased its stake in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after buying an additional 104 shares during the last quarter.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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