Owens Corning (NYSE:OC) Insider Sells $84,497.00 in Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Price Performance

Shares of NYSE OC traded up $1.83 during mid-day trading on Friday, hitting $126.07. 1,080,948 shares of the stock traded hands, compared to its average volume of 1,360,896. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The company has a market cap of $10.15 billion, a PE ratio of -19.07, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. The firm has a 50 day simple moving average of $115.45 and a two-hundred day simple moving average of $116.48.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC increased its position in Owens Corning by 231.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after buying an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. increased its position in Owens Corning by 99.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after buying an additional 454,382 shares in the last quarter. Caprock Group LLC bought a new stake in Owens Corning in the 3rd quarter valued at about $1,742,000. National Pension Service increased its position in Owens Corning by 25.5% in the 3rd quarter. National Pension Service now owns 95,495 shares of the construction company’s stock valued at $13,509,000 after buying an additional 19,375 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Owens Corning by 46.0% in the 3rd quarter. Federated Hermes Inc. now owns 137,432 shares of the construction company’s stock valued at $19,441,000 after buying an additional 43,320 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on OC. Bank of America cut their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings downgraded Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Barclays raised their target price on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Evercore set a $139.00 target price on Owens Corning in a research report on Thursday, May 7th. Finally, Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.82.

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.