Owens Corning (NYSE:OC) Insider Marcio A. Sandri Sells 3,051 Shares

Owens Corning (NYSE:OC) insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Owens Corning Stock Up 0.1 %

Shares of OC stock traded up $0.15 during trading hours on Monday, hitting $174.35. 592,451 shares of the company were exchanged, compared to its average volume of 679,521. The business has a 50 day moving average of $167.63 and a two-hundred day moving average of $169.66. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The company has a market capitalization of $15.11 billion, a PE ratio of 14.11, a PEG ratio of 3.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $4.22 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is 19.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OC. Nordea Investment Management AB boosted its holdings in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after purchasing an additional 533,910 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after purchasing an additional 464,981 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after purchasing an additional 446,073 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after purchasing an additional 365,853 shares during the last quarter. Finally, Swedbank AB acquired a new position in Owens Corning during the first quarter worth $60,424,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. Barclays reduced their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. UBS Group upped their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada boosted their price target on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.