Owens Corning (NYSE:OC) Insider Marcio A. Sandri Sells 3,051 Shares

Owens Corning (NYSE:OC) insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Owens Corning Stock Performance

Shares of Owens Corning stock traded up $0.15 on Monday, reaching $174.35. 592,451 shares of the company were exchanged, compared to its average volume of 679,521. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company’s 50-day moving average is $167.63 and its two-hundred day moving average is $169.66. The firm has a market cap of $15.11 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 3.18 and a beta of 1.41. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

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

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is currently 19.43%.

Analyst Upgrades and Downgrades

OC has been the topic of several research reports. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Royal Bank of Canada upped their target price on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Hedge Funds Weigh In On Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. Nordea Investment Management AB grew its position in Owens Corning by 74.4% in 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 increased its position in 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 worth $156,756,000 after buying an additional 75,594 shares during the last quarter. Point72 Asset Management L.P. raised 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 acquiring an additional 464,981 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Owens Corning by 6.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after buying an additional 43,180 shares during the last quarter. 88.40% of the stock is owned by 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.