Michael H. Thaman Sells 130,700 Shares of Owens Corning Inc (OC) Stock
Owens Corning Inc (NYSE:OC) Chairman Michael H. Thaman sold 130,700 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the completion of the sale, the chairman now directly owns 847,992 shares in the company, valued at approximately $63,557,000.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Owens Corning Inc (NYSE:OC) traded up 0.71% on Thursday, reaching $75.22. 1,234,246 shares of the company’s stock were exchanged. Owens Corning Inc has a one year low of $46.45 and a one year high of $76.84. The firm has a 50 day moving average of $70.10 and a 200-day moving average of $64.57. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 21.61 and a beta of 1.04.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities research analysts forecast that Owens Corning Inc will post $4.30 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the business. Creative Planning increased its stake in Owens Corning by 104.3% during the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after purchasing an additional 1,043 shares during the period. Point72 Asia Hong Kong Ltd increased its stake in shares of Owens Corning by 457.1% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock worth $141,000 after buying an additional 1,888 shares during the period. Penserra Capital Management LLC increased its stake in shares of Owens Corning by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock worth $163,000 after buying an additional 232 shares during the period. First Bank & Trust increased its stake in shares of Owens Corning by 3.6% during the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares during the period. Finally, American Trust Investment Advisors LLC purchased a new stake in shares of Owens Corning during the first quarter worth approximately $212,000. Institutional investors own 96.78% of the company’s stock.
OC has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $77.00 target price on shares of Owens Corning in a research note on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 target price on shares of Owens Corning in a research note on Monday, June 19th. Instinet reissued a “buy” rating and issued a $74.00 target price on shares of Owens Corning in a research note on Thursday, June 1st. BidaskClub raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, June 28th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Owens Corning has an average rating of “Buy” and a consensus price target of $72.10.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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