Mari Doerfler Sells 1,926 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning Inc (NYSE:OC) VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Owens Corning Trading Down 1.0%

NYSE:OC opened at $118.66 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The company has a market cap of $9.56 billion, a PE ratio of -17.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.35. The company has a 50 day simple moving average of $113.73 and a two-hundred day simple moving average of $116.76.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the firm posted $2.97 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. Research analysts forecast that Owens Corning Inc will post 9.53 earnings per share for the current year.

Analyst Ratings Changes

OC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research report on Friday, March 27th. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Bank of America cut their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Argus raised shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Barclays lifted their target price on shares of Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $144.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in shares of Owens Corning during the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Owens Corning during the 1st quarter worth $30,000. Harbour Investments Inc. boosted its stake in shares of Owens Corning by 66.5% during the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning during the 4th quarter worth $37,000. Finally, Root Financial Partners LLC purchased a new position in shares of Owens Corning during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

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.