Owens Corning (NYSE:OC) VP Sells $43,692.00 in Stock

Owens Corning (NYSE:OCGet Free Report) VP Mari Doerfler sold 240 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Owens Corning Stock Down 2.5 %

Owens Corning stock opened at $176.58 on Monday. The firm has a market capitalization of $15.30 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 5.26 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $184.00. The stock’s fifty day moving average is $173.28 and its two-hundred day moving average is $159.12.

Owens Corning (NYSE:OCGet Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $2.77 EPS. Analysts predict that Owens Corning will post 15.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of OC. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Owens Corning by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after purchasing an additional 67 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Owens Corning by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after buying an additional 69 shares during the period. GAMMA Investing LLC boosted its position in Owens Corning by 7.5% during the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after acquiring an additional 77 shares during the last quarter. Blue Trust Inc. grew its stake in Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after acquiring an additional 78 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OC. UBS Group boosted their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Citigroup increased their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Jefferies Financial Group started coverage on Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price objective on the stock. Argus increased their target price on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Loop Capital lifted their price target on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.21.

Read Our Latest Analysis on Owens Corning

About Owens Corning

(Get Free Report)

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

Further Reading

Insider Buying and Selling by Quarter for Owens Corning (NYSE:OC)

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