Owens Corning (NYSE:OC) Shares Gap Down to $159.49

Owens Corning (NYSE:OCGet Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $159.49, but opened at $151.73. Owens Corning shares last traded at $148.08, with a volume of 563,191 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OC. JPMorgan Chase & Co. upped their price target on shares of Owens Corning from $116.00 to $161.00 and gave the company a “neutral” rating in a report on Thursday, December 14th. Barclays raised their target price on Owens Corning from $153.00 to $176.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Deutsche Bank Aktiengesellschaft upgraded Owens Corning from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $180.00 in a report on Friday, December 8th. Truist Financial lowered their price objective on shares of Owens Corning from $135.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Finally, Wells Fargo & Company assumed coverage on shares of Owens Corning in a research note on Tuesday, October 17th. They set an “equal weight” rating and a $143.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.87.

Get Our Latest Research Report on Owens Corning

Owens Corning Trading Down 7.1 %

The stock has a market cap of $13.17 billion, a P/E ratio of 11.42, a PEG ratio of 1.98 and a beta of 1.47. The business’s 50 day simple moving average is $148.92 and its 200 day simple moving average is $138.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.49.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, March 1st. Owens Corning’s dividend payout ratio is 18.49%.

Insiders Place Their Bets

In related news, insider Gunner Smith sold 708 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the sale, the insider now owns 39,994 shares in the company, valued at approximately $6,148,277.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gunner Smith sold 708 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the transaction, the insider now directly owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders sold 10,465 shares of company stock worth $1,607,085 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new stake in Owens Corning in the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Owens Corning in the third quarter valued at approximately $29,000. First Capital Advisors Group LLC. bought a new position in Owens Corning in the 2nd quarter worth approximately $31,000. Finally, IFP Advisors Inc lifted its holdings in Owens Corning by 78.1% during the 2nd quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock worth $32,000 after buying an additional 107 shares in the last quarter. 90.22% of the stock is owned by institutional investors.

About Owens Corning

(Get Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Featured Stories

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.