Key Points
- Owens Corning VP Mari Doerfler sold 1,926 shares on May 8 at an average price of $120.92, generating about $232,892. After the sale, she still held 3,093 shares, a 38.37% reduction in her position.
- The company reported better-than-expected quarterly results, with EPS of $1.22 versus the $1.01 consensus and revenue of $2.27 billion versus expectations of $2.18 billion. However, revenue still fell 10.5% from a year earlier.
- Analyst sentiment remains moderately positive, with an average price target of $144.82 and ratings skewed toward Buy, though opinions vary from Strong Buy to Sell. The stock was down slightly and opened at $119.75, near its recent moving averages.
Owens Corning Inc (NYSE:OC - Get Free Report) VP Mari Doerfler sold 1,926 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares of the company's stock, valued at $374,005.56. This trade represents a 38.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Owens Corning Stock Down 0.1%
OC stock opened at $119.75 on Wednesday. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.42. The stock has a market capitalization of $9.64 billion, a PE ratio of -18.12, a price-to-earnings-growth ratio of 2.27 and a beta of 1.35. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a fifty day moving average of $113.69 and a 200-day moving average of $116.83.
Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.97 EPS. As a group, analysts expect that Owens Corning Inc will post 9.12 EPS for the current year.
Hedge Funds Weigh In On Owens Corning
Several hedge funds have recently added to or reduced their stakes in the business. Pitcairn Co. increased its stake in Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock valued at $250,000 after purchasing an additional 80 shares during the last quarter. First Pacific Financial increased its stake in Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company's stock valued at $406,000 after purchasing an additional 85 shares during the last quarter. Archer Investment Corp increased its stake in Owens Corning by 13.3% during the third quarter. Archer Investment Corp now owns 748 shares of the construction company's stock valued at $106,000 after purchasing an additional 88 shares during the last quarter. Viawealth LLC increased its stake in Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company's stock valued at $287,000 after purchasing an additional 88 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in Owens Corning by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company's stock valued at $343,000 after purchasing an additional 90 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on OC shares. UBS Group increased their price target on shares of Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Bank of America cut their price target on shares of Owens Corning from $140.00 to $138.00 and set a "buy" rating for the company in a report on Monday, April 20th. Truist Financial increased their price target on shares of Owens Corning from $120.00 to $125.00 and gave the company a "hold" rating in a report on Thursday, May 7th. Wells Fargo & Company increased their price target on shares of Owens Corning from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Owens Corning in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.82.
Check Out Our Latest Stock Analysis on Owens Corning
Owens Corning Company Profile
(
Get Free Report)
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.
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