Owens Corning (NYSE:OC) VP Daniel T. Smith Sells 7,969 Shares of Stock

Owens Corning (NYSE:OC) VP Daniel T. Smith sold 7,969 shares of Owens Corning stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $64.72, for a total transaction of $515,753.68. Following the transaction, the vice president now directly owns 65,353 shares in the company, valued at $4,229,646.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Owens Corning stock traded up $0.24 on Friday, hitting $65.16. The stock had a trading volume of 1,006,763 shares, compared to its average volume of 1,544,423. The company has a quick ratio of 0.87, a current ratio of 1.69 and a debt-to-equity ratio of 0.73. Owens Corning has a one year low of $40.64 and a one year high of $65.22. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.74 and a beta of 1.24. The stock’s 50-day simple moving average is $62.25 and its two-hundred day simple moving average is $56.24.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, October 23rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Owens Corning had a net margin of 6.99% and a return on equity of 12.14%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $1.54 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts predict that Owens Corning will post 4.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Tuesday, October 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, October 11th. Owens Corning’s dividend payout ratio is 17.81%.

Several research analysts have commented on the stock. Buckingham Research raised shares of Owens Corning from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 22nd. Exane BNP Paribas assumed coverage on shares of Owens Corning in a research note on Wednesday, October 9th. They set an “outperform” rating on the stock. BNP Paribas assumed coverage on shares of Owens Corning in a research note on Wednesday, October 9th. They set an “outperform” rating on the stock. ValuEngine downgraded shares of Owens Corning from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 24th. Finally, SunTrust Banks lifted their price target on shares of Owens Corning from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Owens Corning has a consensus rating of “Hold” and a consensus target price of $59.68.

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in Owens Corning by 509.6% in the first quarter. FMR LLC now owns 693,589 shares of the construction company’s stock valued at $32,682,000 after acquiring an additional 579,805 shares in the last quarter. Fulton Bank N.A. bought a new stake in Owens Corning in the second quarter valued at $224,000. DNB Asset Management AS boosted its holdings in Owens Corning by 20.1% in the second quarter. DNB Asset Management AS now owns 22,314 shares of the construction company’s stock valued at $1,299,000 after acquiring an additional 3,741 shares in the last quarter. Scout Investments Inc. bought a new stake in Owens Corning in the second quarter valued at $17,004,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in Owens Corning by 23.3% in the second quarter. Xact Kapitalforvaltning AB now owns 21,200 shares of the construction company’s stock valued at $1,234,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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