Owens Corning (NYSE:OC) insider Michael H. Thaman sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $57.08, for a total transaction of $1,712,400.00. Following the completion of the sale, the insider now owns 827,513 shares in the company, valued at $47,234,442.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Owens Corning stock traded down $0.93 during trading on Friday, hitting $55.94. The stock had a trading volume of 92,699 shares, compared to its average volume of 1,456,790. The stock has a 50 day simple moving average of $56.07 and a 200 day simple moving average of $52.09. The company has a market capitalization of $6.12 billion, a PE ratio of 11.32, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a quick ratio of 0.89, a current ratio of 1.69 and a debt-to-equity ratio of 0.80. Owens Corning has a 1 year low of $40.64 and a 1 year high of $61.53.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 24th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.18. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.83 billion. Owens Corning had a net margin of 7.21% and a return on equity of 12.18%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. As a group, equities analysts expect that Owens Corning will post 4.68 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in Owens Corning during the first quarter valued at approximately $26,000. First Mercantile Trust Co. purchased a new position in Owens Corning during the first quarter valued at approximately $33,000. Quantamental Technologies LLC purchased a new position in Owens Corning during the second quarter valued at approximately $33,000. Private Capital Group LLC grew its position in Owens Corning by 95.8% during the second quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock valued at $50,000 after purchasing an additional 388 shares in the last quarter. Finally, Bremer Bank National Association purchased a new position in Owens Corning during the first quarter valued at approximately $58,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on OC shares. Seaport Global Securities upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded shares of Owens Corning from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Bank of America upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $72.00 in a report on Thursday, June 27th. SunTrust Banks boosted their target price on shares of Owens Corning to $58.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their target price on shares of Owens Corning to $65.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average 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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