Insider Selling: Owens Corning (NYSE:OC) Insider Sells 700 Shares of Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Stock Performance

NYSE:OC traded up $1.83 on Friday, hitting $126.07. The company’s stock had a trading volume of 1,080,948 shares, compared to its average volume of 1,360,896. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The stock has a fifty day moving average of $115.45 and a two-hundred day moving average of $116.48. The firm has a market capitalization of $10.15 billion, a P/E ratio of -19.07, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.42.

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

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently modified their holdings of the business. Groupama Asset Managment boosted its holdings in shares of Owens Corning by 4.2% in the 1st quarter. Groupama Asset Managment now owns 6,411 shares of the construction company’s stock valued at $694,000 after purchasing an additional 258 shares in the last quarter. Lodge Hill Capital LLC boosted its holdings in shares of Owens Corning by 14.1% in the 1st quarter. Lodge Hill Capital LLC now owns 363,570 shares of the construction company’s stock valued at $39,346,000 after purchasing an additional 45,000 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Owens Corning by 51.9% in the 1st quarter. Janus Henderson Group PLC now owns 56,351 shares of the construction company’s stock valued at $6,099,000 after purchasing an additional 19,251 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Owens Corning in the 1st quarter valued at $410,000. Finally, Bull Harbor Capital LLC acquired a new stake in shares of Owens Corning during the 1st quarter valued at $521,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. Weiss Ratings downgraded Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. The Goldman Sachs Group increased their price target on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Truist Financial increased their price target on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Barclays raised their target price on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their target price on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell 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 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.