Insider Selling: Owens Corning (NYSE:OC) Insider Sells 3,050 Shares of Stock

Owens Corning (NYSE:OC) insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Owens Corning Stock Down 2.2 %

Shares of Owens Corning stock opened at $174.20 on Friday. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13. The stock has a market capitalization of $15.10 billion, a P/E ratio of 14.11, a PEG ratio of 3.18 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average price of $167.63 and a two-hundred day moving average price of $169.53.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. Owens Corning’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $4.22 EPS. Equities analysts expect that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. Owens Corning’s dividend payout ratio is presently 19.43%.

Wall Street Analyst Weigh In

OC has been the topic of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Evercore ISI cut their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Loop Capital increased their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Royal Bank of Canada boosted their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, UBS Group raised their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Institutional Trading of Owens Corning

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Owens Corning by 38.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after buying an additional 446,073 shares in the last quarter. Nordea Investment Management AB raised its stake in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after acquiring an additional 533,910 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Owens Corning by 7.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,057,518 shares of the construction company’s stock valued at $156,756,000 after acquiring an additional 75,594 shares during the period. Norges Bank bought a new position in shares of Owens Corning during the fourth quarter valued at $118,251,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares in the last quarter. 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.