Insider Selling: Owens Corning (NYSE:OC) Insider Sells $84,497.00 in Stock

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Stock Performance

NYSE OC opened at $126.07 on Monday. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of -19.07, a price-to-earnings-growth ratio of 2.28 and a beta of 1.34. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $115.82 and a 200-day moving average price of $116.64. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. As a group, equities research analysts predict that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

OC has been the subject of a number of recent analyst reports. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. UBS Group upped their price objective on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Evercore set a $139.00 price objective on Owens Corning in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price objective on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $144.82.

Institutional Investors Weigh In On Owens Corning

Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Owens Corning in the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Owens Corning in the first quarter worth about $30,000. Harbour Investments Inc. lifted its position 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake 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 about $42,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Company Profile

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.