Owens Corning (NYSE:OC) Insider Monaco Nicolas Del Sells 1,750 Shares

Owens Corning (NYSE:OC) insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Owens Corning Stock Performance

OC traded down $2.88 during midday trading on Friday, hitting $181.06. 547,466 shares of the company were exchanged, compared to its average volume of 678,510. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. The company’s 50 day simple moving average is $182.54 and its 200 day simple moving average is $178.73. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $4.15 earnings per share. As a group, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Loop Capital lowered their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. UBS Group upped their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clare Market Investments LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $562,000. Independent Advisor Alliance purchased a new position in Owens Corning during the fourth quarter valued at $244,000. Moran Wealth Management LLC grew its position in shares of Owens Corning by 0.4% in the fourth quarter. Moran Wealth Management LLC now owns 106,937 shares of the construction company’s stock valued at $18,214,000 after purchasing an additional 390 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Owens Corning by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company’s stock worth $109,091,000 after purchasing an additional 16,958 shares in the last quarter. Finally, Ruffer LLP acquired a new position in shares of Owens Corning during the 4th quarter worth about $5,236,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

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.