Rachel Barthelemy Marcon Sells 900 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider owned 21,449 shares in the company, 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Stock Performance

NYSE:OC opened at $134.18 on Thursday. The stock has a 50 day simple moving average of $145.63 and a 200 day simple moving average of $127.74. The stock has a market cap of $10.61 billion, a P/E ratio of -16.65, a PEG ratio of 2.01 and a beta of 1.32. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $4.21 EPS. Research analysts anticipate that Owens Corning Inc will post 9.9 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were paid a $0.79 dividend. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a yield of 2.4%. Owens Corning’s payout ratio is -39.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. DA Davidson began coverage on shares of Owens Corning in a research report on Monday, August 24th. They issued a “buy” rating and a $190.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted 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. Royal Bank Of Canada increased their target price on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Evercore restated an “outperform” rating and issued a $193.00 price target on shares of Owens Corning in a research report on Thursday, July 23rd. Finally, Barclays boosted their price target on Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.31.

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently modified their holdings of OC. HM Payson & Co. raised its holdings in shares of 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 buying an additional 112 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Owens Corning in the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new position in Owens Corning in the first quarter valued at about $30,000. Fiduciary Financial Advisors acquired a new position in Owens Corning during the second quarter worth about $35,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Owens Corning by 66.5% in the fourth 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. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Company Profile

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.