Owens Corning (NYSE:OC) VP Sells $232,891.92 in Stock

Owens Corning Inc (NYSE:OC) VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Owens Corning Stock Performance

Owens Corning stock opened at $120.89 on Friday. The firm’s fifty day moving average price is $113.85 and its 200-day moving average price is $116.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The stock has a market cap of $9.73 billion, a P/E ratio of -18.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.97 EPS. On average, equities research analysts expect that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OC has been the topic of several recent research reports. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Bank of America reduced their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Barclays increased their target price on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.82.

Institutional Investors Weigh In On Owens Corning

Large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in Owens Corning in the 4th quarter worth $29,000. Root Financial Partners LLC bought a new stake in Owens Corning in the 3rd quarter worth $39,000. Cassaday & Co Wealth Management LLC bought a new stake in Owens Corning in the 1st quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in Owens Corning in the 3rd quarter worth $42,000. Finally, Harbour Investments Inc. grew its holdings in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

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.