Rachel Barthelemy Marcon Sells 700 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning Inc (NYSE:OCGet Free Report) insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Price Performance

Shares of NYSE OC opened at $126.07 on Friday. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of -19.07, a PEG ratio of 2.28 and a beta of 1.35. The firm has a 50-day moving average of $115.82 and a two-hundred day moving average of $116.55.

Owens Corning (NYSE:OCGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the company earned $2.97 EPS. Owens Corning’s revenue was down 10.5% on a year-over-year basis. As a group, analysts expect that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OC shares. Truist Financial upped their price target on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. UBS Group raised their target price on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. raised their target price on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Evercore set a $139.00 target price on shares of Owens Corning in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.82.

Get Our Latest Research Report on OC

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OC. Itau Unibanco Holding S.A. acquired a new position in shares of Owens Corning in the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Owens Corning in the first quarter worth about $30,000. Harbour Investments Inc. boosted its holdings in shares of Owens Corning by 66.5% in the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after buying an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the fourth quarter worth about $37,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Owens Corning in the third quarter worth approximately $42,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Company Profile

(Get Free Report)

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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