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.
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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