Owens Corning Inc (NYSE:OC) CFO Michael C. Mcmurray sold 14,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the completion of the transaction, the chief financial officer now owns 40,903 shares in the company, valued at $3,129,897.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Owens Corning Inc (NYSE:OC) opened at 74.48 on Tuesday. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 21.40 and a beta of 1.04. The firm’s 50 day moving average is $69.13 and its 200 day moving average is $64.22. Owens Corning Inc has a 52-week low of $46.45 and a 52-week high of $76.84.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. Equities analysts expect that Owens Corning Inc will post $4.28 earnings per share for the current year.
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A number of research firms have recently commented on OC. Wells Fargo & Company upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $83.00 in a report on Wednesday, August 30th. MKM Partners upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $62.00 in a report on Thursday, July 27th. FBR & Co upped their price target on shares of Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a report on Thursday, July 27th. Instinet cut shares of Owens Corning from a “buy” rating to a “neutral” rating and upped their price target for the stock from $74.00 to $79.00 in a report on Monday. Finally, BidaskClub upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.65.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Owens Corning by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock valued at $706,837,000 after buying an additional 190,866 shares during the period. BlackRock Inc. boosted its stake in shares of Owens Corning by 4,010.8% in the 1st quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock valued at $398,669,000 after buying an additional 6,338,177 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Owens Corning by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock valued at $245,337,000 after buying an additional 27,809 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Owens Corning by 7.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock valued at $202,370,000 after buying an additional 240,258 shares during the period. Finally, State Street Corp boosted its stake in shares of Owens Corning by 0.4% in the 1st quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock valued at $141,507,000 after buying an additional 8,490 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.
Owens Corning Company Profile
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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