Insider Selling: Owens Corning (NYSE:OC) Insider Sells $129,663.00 in Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 900 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the transaction, the insider owned 21,449 shares in the company, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Price Performance

Shares of NYSE OC opened at $134.53 on Friday. The stock’s 50 day moving average price is $145.60 and its 200-day moving average price is $127.75. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The company has a market capitalization of $10.63 billion, a PE ratio of -16.69, a PEG ratio of 2.02 and a beta of 1.32.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company earned $4.21 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio is -39.21%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OC shares. DA Davidson initiated coverage on Owens Corning in a research note on Monday, August 24th. They set a “buy” rating and a $190.00 price target for the company. Wall Street Zen upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group raised their price target on Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OC. California State Teachers Retirement System lifted its holdings in Owens Corning by 15,428.9% in the 2nd quarter. California State Teachers Retirement System now owns 14,771,676 shares of the construction company’s stock worth $2,348,106,000 after buying an additional 14,676,552 shares during the period. BlackRock Inc. purchased a new position in shares of Owens Corning during the second quarter valued at approximately $1,401,161,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Owens Corning by 460.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock valued at $146,940,000 after purchasing an additional 1,078,877 shares during the period. Norges Bank bought a new position in Owens Corning in the 4th quarter worth $119,748,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Owens Corning by 721.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock valued at $125,513,000 after buying an additional 1,027,800 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

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.