Marcio A. Sandri Sells 9,697 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OCGet Free Report) insider Marcio A. Sandri sold 9,697 shares of Owens Corning stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $178.00, for a total value of $1,726,066.00. Following the sale, the insider now owns 62,895 shares in the company, valued at $11,195,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $178.22 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average is $170.96 and its 200 day moving average is $155.30. Owens Corning has a 12 month low of $105.56 and a 12 month high of $183.32. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 5.29 and a beta of 1.45.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the business posted $2.77 EPS. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts predict that Owens Corning will post 15.48 EPS for the current year.

Hedge Funds Weigh In On Owens Corning

Several institutional investors and hedge funds have recently added to or reduced their stakes in OC. MV Capital Management Inc. boosted 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 acquiring an additional 79 shares in the last quarter. NBC Securities Inc. purchased a new stake in Owens Corning in the first quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of Owens Corning during the 1st quarter valued at about $28,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning in the 4th quarter valued at about $27,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Owens Corning in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OC shares. Evercore ISI increased their price target on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research note on Thursday, April 25th. Jefferies Financial Group started coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target for the company. Truist Financial upped their price target on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Argus upped their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $172.07.

Check Out Our Latest Stock Analysis on Owens Corning

Owens Corning Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Owens Corning (NYSE:OC)

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