Owens Corning (NYSE:OC) insider Marcio A. Sandri sold 6,000 shares of Owens Corning stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $55.35, for a total value of $332,100.00. Following the sale, the insider now directly owns 48,646 shares in the company, valued at $2,692,556.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of OC opened at $56.87 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.69 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $56.07 and its 200-day moving average price is $52.09. Owens Corning has a 52 week low of $40.64 and a 52 week high of $61.53. The stock has a market cap of $6.12 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.47 and a beta of 1.27.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.18. Owens Corning had a return on equity of 12.18% and a net margin of 7.21%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning will post 4.68 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 16th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.55%. Owens Corning’s dividend payout ratio is currently 17.81%.
Several institutional investors and hedge funds have recently modified their holdings of OC. Penserra Capital Management LLC bought a new stake in shares of Owens Corning in the 1st quarter worth approximately $26,000. First Mercantile Trust Co. bought a new stake in shares of Owens Corning in the 1st quarter worth approximately $33,000. Quantamental Technologies LLC bought a new stake in shares of Owens Corning in the 2nd quarter worth approximately $33,000. Private Capital Group LLC boosted its position in shares of Owens Corning by 95.8% in the 2nd quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock worth $50,000 after purchasing an additional 388 shares in the last quarter. Finally, Bremer Bank National Association bought a new stake in shares of Owens Corning in the 1st quarter worth approximately $58,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. Seaport Global Securities raised Owens Corning from a “sell” rating to a “neutral” rating in a research report on Thursday, June 27th. ValuEngine cut Owens Corning from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Owens Corning from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Bank of America raised Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $72.00 in a research report on Thursday, June 27th. Finally, Nomura reaffirmed a “neutral” rating and set a $48.00 price objective (down from $70.00) on shares of Owens Corning in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.29.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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