Owens Corning (NYSE:OC) Insider Sells $3,336,265.50 in Stock

Owens Corning (NYSE:OC) insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Owens Corning Stock Down 4.8 %

Shares of OC stock opened at $174.44 on Thursday. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The stock has a fifty day moving average price of $191.28 and a 200 day moving average price of $178.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market cap of $14.96 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $4.15 EPS. Analysts predict that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. Owens Corning’s payout ratio is currently 23.49%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday. The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.83.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds have recently added to or reduced their stakes in OC. Innealta Capital LLC acquired a new position in shares of Owens Corning during the second quarter worth approximately $32,000. Tobam increased its stake in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the period. Brooklyn Investment Group bought a new stake in shares of Owens Corning during the third quarter worth $38,000. Quarry LP raised its position in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Owens Corning by 46.2% during the second quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after acquiring an additional 116 shares during the period. Institutional investors own 88.40% of the company’s stock.

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.