Todd W. Fister Sells 3,000 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OC) CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Owens Corning Stock Down 3.6 %

OC stock opened at $167.54 on Tuesday. Owens Corning has a 52 week low of $109.95 and a 52 week high of $184.00. The business has a 50-day simple moving average of $175.54 and a 200 day simple moving average of $161.88. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $14.52 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 5.17 and a beta of 1.42.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.77 EPS. Sell-side analysts anticipate that Owens Corning will post 15.48 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be issued a $0.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Analyst Upgrades and Downgrades

Several analysts recently commented on OC shares. Citigroup upped their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a research report on Monday, June 17th. Barclays increased their target price on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, June 3rd. Royal Bank of Canada boosted their price target on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, UBS Group increased their price objective on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds have recently made changes to their positions in OC. Bank of New Hampshire boosted its stake in shares of Owens Corning by 15.9% during the second quarter. Bank of New Hampshire now owns 11,232 shares of the construction company’s stock valued at $1,951,000 after purchasing an additional 1,539 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Owens Corning in the first quarter valued at $421,000. Cetera Investment Advisers raised its position in shares of Owens Corning by 196.2% during the first quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock worth $2,129,000 after acquiring an additional 8,456 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Owens Corning in the 1st quarter worth approximately $1,031,000. Finally, Swedbank AB acquired a new stake in shares of Owens Corning during the first quarter worth $60,424,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.