Owens Corning Inc (OC) CFO Sells $1,634,040.00 in Stock

Owens Corning Inc (NYSE:OC) CFO Michael C. Mcmurray sold 18,000 shares of Owens Corning stock in a transaction on Monday, December 4th. The shares were sold at an average price of $90.78, for a total value of $1,634,040.00. Following the completion of the transaction, the chief financial officer now owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Owens Corning Inc (OC) traded down $1.31 during mid-day trading on Tuesday, reaching $88.90. The company’s stock had a trading volume of 1,664,415 shares, compared to its average volume of 1,058,276. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66. Owens Corning Inc has a 52-week low of $50.77 and a 52-week high of $91.40. The company has a market capitalization of $9,751.39, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.32 and a beta of 1.09.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. equities analysts expect that Owens Corning Inc will post 4.33 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in shares of Owens Corning by 213.5% in the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after acquiring an additional 1,110 shares during the last quarter. Creative Planning lifted its stake in shares of Owens Corning by 104.3% in the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after acquiring an additional 1,043 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Owens Corning by 11.1% in the 2nd quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock valued at $198,000 after acquiring an additional 296 shares during the last quarter. First Bank & Trust lifted its stake in shares of Owens Corning by 3.6% in the 2nd quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after acquiring an additional 104 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Owens Corning in the 3rd quarter valued at about $202,000. 94.55% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on OC. Royal Bank Of Canada upgraded Owens Corning from an “outperform” rating to a “top pick” rating in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Thursday, October 26th. KeyCorp reiterated a “buy” rating and issued a $84.00 price target on shares of Owens Corning in a research report on Wednesday, September 13th. Citigroup restated a “sell” rating and set a $69.00 target price (up from $49.00) on shares of Owens Corning in a research report on Tuesday, October 3rd. Finally, SunTrust Banks boosted their target price on Owens Corning from $66.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $78.70.

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About Owens Corning

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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