Marcio A. Sandri Sells 3,050 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OC) insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Owens Corning Stock Performance

Shares of NYSE:OC traded up $5.87 during midday trading on Thursday, hitting $178.20. The company had a trading volume of 810,006 shares, compared to its average volume of 671,582. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The company has a fifty day moving average of $167.63 and a two-hundred day moving average of $169.18. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 3.18 and a beta of 1.41. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.22 EPS. On average, equities research analysts expect that Owens Corning will post 15.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Owens Corning

A number of hedge funds have recently modified their holdings of the company. MV Capital Management Inc. grew its position in shares of Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Owens Corning during the first quarter valued at approximately $26,000. Riverview Trust Co bought a new stake in shares of Owens Corning during the first quarter valued at approximately $28,000. Finally, ORG Partners LLC purchased a new position in shares of Owens Corning in the first quarter worth $31,000. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OC has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target for the company. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their target price for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Loop Capital lifted their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Royal Bank of Canada boosted their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.