Sen. Tommy Tuberville Sells Owens Corning (NYSE:OC) Shares

Senator Tommy Tuberville (R-Alabama) recently sold shares of Owens Corning (NYSE:OC). In a filing disclosed on November 15th, the Senator disclosed that they had sold between $15,001 and $50,000 in Owens Corning stock on October 29th.

Senator Tommy Tuberville also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Travelers Companies (NYSE:TRV) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Microsoft (NASDAQ:MSFT) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Kimberly-Clark (NYSE:KMB) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Corteva (NYSE:CTVA) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of McDonald’s (NYSE:MCD) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Medtronic (NYSE:MDT) on 8/26/2024.

Owens Corning Stock Down 0.7 %

OC stock opened at $193.99 on Friday. Owens Corning has a fifty-two week low of $128.79 and a fifty-two week high of $199.54. The stock has a fifty day moving average of $179.12 and a 200-day moving average of $174.59. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $4.15 earnings per share. As a group, equities research analysts predict that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. Owens Corning’s dividend payout ratio is presently 20.43%.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value 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 trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. UBS Group raised 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. Finally, Royal Bank of Canada upped their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Institutional Trading of Owens Corning

Hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after buying an additional 58 shares during the last quarter. PFG Investments LLC grew its position in Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the last quarter. Tobam grew its position in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the last quarter. First Bank & Trust increased its stake in Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares during the period. Finally, Bessemer Group Inc. lifted its position in Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Senator Tuberville

Tommy Tuberville (Republican Party) (also known as Coach) is a member of the U.S. Senate from Alabama. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Tuberville (Republican Party) ran for election to the U.S. Senate to represent Alabama. He won in the general election on November 3, 2020. Tuberville was head coach for several college football teams between 1995 and 2016, including at Auburn University and the University of Cincinnati. Tommy Tuberville was born in Camden, Arkansas, and lives in Auburn, Alabama. Tuberville’s career experience includes working as a studio analyst with ESPN and as the head football coach of the University of Mississippi, the University of Auburn, Texas Tech University, and the University of Cincinnati.

About Owens Corning

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.