Key Points
- Owens Corning insider Rachel Barthelemy Marcon sold 900 shares at an average price of $144.07, generating $129,663. The sale reduced her direct holdings by 4.03% and was executed under a pre-arranged Rule 10b5-1 trading plan.
- Owens Corning reported quarterly EPS of $3.93, beating estimates of $3.09, while revenue reached $2.76 billion and increased 0.3% year over year.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $165.31; the company also pays a quarterly dividend of $0.79 per share.
Owens Corning Inc (NYSE:OC - Get Free Report) insider Rachel Barthelemy Marcon sold 900 shares of the business's stock in a transaction 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 transaction, the insider directly owned 21,449 shares of the company's stock, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Owens Corning Price Performance
NYSE OC opened at $133.81 on Wednesday. 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 company has a 50-day moving average price of $145.63 and a two-hundred day moving average price of $127.75. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of -16.60, a price-to-earnings-growth ratio of 2.08 and a beta of 1.32. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91.
Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the firm earned $4.21 EPS. The firm's revenue was up .3% compared to the same quarter last year. Analysts forecast that Owens Corning Inc will post 9.9 EPS for the current year.
Owens Corning Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders 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 was Monday, July 20th. Owens Corning's payout ratio is -39.21%.
Institutional Trading of Owens Corning
A number of institutional investors and hedge funds have recently modified their holdings of OC. HM Payson & Co. lifted its position in Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company's stock worth $27,000 after acquiring an additional 112 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Owens Corning in the 1st quarter valued at $30,000. Fiduciary Financial Advisors acquired a new position in Owens Corning in the second quarter worth about $35,000. Finally, Harbour Investments Inc. lifted its stake in Owens Corning by 66.5% during the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company's stock worth $36,000 after purchasing an additional 129 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently weighed in on OC. Deutsche Bank Aktiengesellschaft upped their price objective on Owens Corning from $136.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Barclays raised their price objective on shares of Owens Corning from $170.00 to $177.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Citigroup raised their price objective on Owens Corning from $149.00 to $177.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $150.00 to $165.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Owens Corning from $141.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and a consensus target price of $165.31.
Get Our Latest Stock Analysis on OC
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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