Owens Corning (NYSE:OC) VP Sells $232,891.92 in Stock

Owens Corning Inc (NYSE:OC – Get Free Report) VP Mari Doerfler sold 1,926 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Owens Corning Trading Down 0.1%

OC traded down $0.10 during midday trading on Tuesday, reaching $119.75. 1,365,693 shares of the company’s stock traded hands, compared to its average volume of 1,391,415. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of -18.12, a P/E/G ratio of 2.14 and a beta of 1.35. The firm has a fifty day moving average of $113.74 and a two-hundred day moving average of $116.88. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74.

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Owens Corning (NYSE:OC – Get Free Report) last announced its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning Inc will post 9.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OC shares. Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Wells Fargo & Company increased their target price on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group increased their target price on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Truist Financial raised their price objective on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $144.82.

Read Our Latest Report on OC

Institutional Trading of Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. Geneos Wealth Management Inc. increased its holdings in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after purchasing an additional 184 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Owens Corning in the 2nd quarter worth $277,000. EverSource Wealth Advisors LLC increased its holdings in shares of Owens Corning by 1,433.7% in 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 in the last quarter. Cerity Partners LLC increased its holdings in shares of Owens Corning by 294.3% in the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock worth $2,389,000 after purchasing an additional 12,966 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Owens Corning by 12.2% in the 2nd 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 in the last quarter. Institutional investors own 88.40% of the company’s stock.

About Owens Corning

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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.

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