Owens Corning (NYSE:OC) Stock Price Down 5.2%

Owens Corning (NYSE:OC) traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $49.87 and last traded at $50.04. 2,553,037 shares changed hands during trading, an increase of 72% from the average session volume of 1,484,125 shares. The stock had previously closed at $52.78.

A number of equities research analysts have recently issued reports on the stock. Nomura reaffirmed a “neutral” rating and set a $48.00 target price (down previously from $70.00) on shares of Owens Corning in a report on Thursday, May 16th. Zacks Investment Research lowered shares of Owens Corning from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Stifel Nicolaus lowered shares of Owens Corning from a “buy” rating to a “hold” rating and set a $52.45 target price for the company. in a report on Wednesday, April 24th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Owens Corning in a report on Tuesday, April 23rd. Finally, Bank of America raised shares of Owens Corning from an “underperform” rating to a “neutral” rating and set a $51.48 target price for the company in a report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Owens Corning has an average rating of “Hold” and a consensus target price of $57.38.

The company has a current ratio of 1.83, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.32 and a beta of 1.19.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. Owens Corning had a net margin of 7.07% and a return on equity of 12.10%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. As a group, research analysts anticipate that Owens Corning will post 4.68 earnings per share for the current year.

In other Owens Corning news, insider Gunner Smith sold 7,900 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.79, for a total value of $409,141.00. Following the transaction, the insider now owns 21,189 shares of the company’s stock, valued at $1,097,378.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kelly Schmidt sold 2,438 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $53.03, for a total transaction of $129,287.14. The disclosure for this sale can be found here. Insiders sold 44,638 shares of company stock worth $2,287,971 in the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of OC. Penserra Capital Management LLC purchased a new stake in shares of Owens Corning during the first quarter worth approximately $26,000. First Mercantile Trust Co. purchased a new position in shares of Owens Corning during the first quarter worth approximately $33,000. Bremer Bank National Association acquired a new stake in shares of Owens Corning during the first quarter worth $58,000. IFP Advisors Inc lifted its holdings in shares of Owens Corning by 32.7% during the fourth quarter. IFP Advisors Inc now owns 1,262 shares of the construction company’s stock worth $55,000 after purchasing an additional 311 shares during the period. Finally, Bremer Trust National Association acquired a new stake in shares of Owens Corning during the fourth quarter worth $76,000. 96.71% of the stock is currently owned by institutional investors.

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Owens Corning Company Profile (NYSE:OC)

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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