Owens Corning Inc (OC) Chairman Michael H. Thaman Sells 101,600 Shares of Stock
Owens Corning Inc (NYSE:OC) Chairman Michael H. Thaman sold 101,600 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the transaction, the chairman now directly owns 840,370 shares of the company’s stock, valued at approximately $71,708,772.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Owens Corning Inc (NYSE OC) traded up $0.31 during trading on Thursday, reaching $87.29. 771,800 shares of the company were exchanged, compared to its average volume of 1,016,823. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99. Owens Corning Inc has a 12 month low of $50.77 and a 12 month high of $87.49. The stock has a market cap of $9,675.74, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.31 and a beta of 1.08.
Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. equities analysts predict that Owens Corning Inc will post 4.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, October 13th. Owens Corning’s dividend payout ratio (DPR) is presently 23.88%.
A number of brokerages recently commented on OC. Wells Fargo & Co raised shares of Owens Corning from a “market perform” rating to an “outperform” rating and increased their price target for the company from $68.00 to $83.00 in a report on Wednesday, August 30th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target (down previously from $88.00) on shares of Owens Corning in a report on Wednesday, October 11th. MKM Partners raised shares of Owens Corning from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $47.00 to $62.00 in a research report on Thursday, July 27th. Finally, FBR & Co increased their price objective on shares of Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research report on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $78.70.
Several large investors have recently modified their holdings of OC. Grove Bank & Trust increased its position in shares of Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after acquiring an additional 1,110 shares during the period. Creative Planning increased its position in shares of Owens Corning by 104.3% during the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after acquiring an additional 1,043 shares during the period. Penserra Capital Management LLC increased its position in shares of Owens Corning by 11.1% during the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after acquiring an additional 296 shares during the period. First Bank & Trust increased its position in shares of Owens Corning by 3.6% during the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after acquiring an additional 104 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Owens Corning during the third quarter worth approximately $202,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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