Insider Selling: Owens Corning (NYSE:OC) Insider Sells 30,000 Shares of Stock

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.

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is currently 17.81%.

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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Insider Buying and Selling by Quarter for Owens Corning (NYSE:OC)

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