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 stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Owens Corning Trading Up 3.4 %

OC stock traded up $5.87 during trading on Thursday, hitting $178.20. The company had a trading volume of 810,006 shares, compared to its average volume of 671,582. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The company has a 50 day simple moving average of $167.63 and a 200-day simple moving average of $169.18. The firm has a market capitalization of $15.44 billion, a P/E ratio of 14.43, 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.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. UBS Group boosted their price target on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Finally, Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Institutional Trading of Owens Corning

Hedge funds have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. increased its holdings in shares of Owens Corning by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after acquiring an additional 69 shares during the period. GAMMA Investing LLC boosted its position in Owens Corning by 7.5% during the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares in the last quarter. Bessemer Group Inc. grew its stake in Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the last quarter. MV Capital Management Inc. raised its holdings in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Owens Corning by 1.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 5,348 shares of the construction company’s stock valued at $793,000 after buying an additional 94 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

About Owens Corning

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.