Owens Corning (NYSE:OC) Insider Rachel Barthelemy Marcon Sells 900 Shares of Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 900 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the sale, the insider directly owned 21,449 shares of the company’s stock, valued at $3,090,157.43. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Stock Performance

NYSE OC opened at $133.81 on Wednesday. The business’s 50-day moving average price is $145.63 and its 200 day moving average price is $127.75. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The firm has a market cap of $10.58 billion, a P/E ratio of -16.60, a P/E/G ratio of 2.08 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned $4.21 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning Inc will post 9.9 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio is -39.21%.

Institutional Trading of Owens Corning

Hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC acquired a new stake in Owens Corning during the 2nd quarter valued at approximately $277,000. EverSource Wealth Advisors LLC increased its holdings in Owens Corning by 1,433.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,190 shares during the last quarter. Cerity Partners LLC raised its holdings in Owens Corning by 294.3% in the second quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock valued at $2,389,000 after acquiring an additional 12,966 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Owens Corning by 12.2% during the second quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock worth $421,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

OC has been the subject of a number of research reports. Evercore reiterated an “outperform” rating and set a $193.00 price target on shares of Owens Corning in a research report on Thursday, July 23rd. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. DA Davidson started coverage on Owens Corning in a research note on Monday, August 24th. They set a “buy” rating and a $190.00 price objective on the stock. Royal Bank Of Canada raised their target price on shares of Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Truist Financial set a $198.00 price target on Owens Corning in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $165.31.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.