Owens Corning (NYSE:OC - Get Free Report) insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, 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 SEC, which is accessible through this hyperlink.
Owens Corning Price Performance
OC opened at $183.31 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a market capitalization of $15.73 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42. The stock's 50 day moving average price is $191.43 and its 200-day moving average price is $178.04. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53.
Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm earned $4.15 EPS. The company's quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning will post 15.46 EPS for the current year.
Owens Corning Increases Dividend
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The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be paid a $0.69 dividend. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, January 6th. Owens Corning's dividend payout ratio is presently 23.49%.
Institutional Trading of Owens Corning
Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock valued at $738,104,000 after buying an additional 187,001 shares during the period. Pacer Advisors Inc. increased its stake in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock valued at $145,455,000 after acquiring an additional 197,667 shares during the period. Point72 Asset Management L.P. boosted its stake 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 acquiring an additional 464,981 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Owens Corning by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company's stock worth $128,379,000 after purchasing an additional 24,522 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
OC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Royal Bank of Canada raised their price objective on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. UBS Group boosted their target price on Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $200.83.
Check Out Our Latest Stock Analysis on OC
About Owens Corning
(
Get Free Report)
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.
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