Owens Corning (NYSE:OC) CFO Sells $520,950.00 in Stock

Owens Corning (NYSE:OC) CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Owens Corning Price Performance

NYSE OC traded down $6.18 during trading hours on Monday, reaching $167.54. 863,200 shares of the company’s stock were exchanged, compared to its average volume of 661,285. The stock has a market cap of $14.52 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 5.17 and a beta of 1.42. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The firm has a fifty day moving average of $175.48 and a 200-day moving average of $161.78. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. Owens Corning’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.77 EPS. On average, equities research analysts predict that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be given a $0.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. Owens Corning’s payout ratio is 19.43%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup upped their price target on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada upped their price target on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Thursday. Jefferies Financial Group assumed coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. MV Capital Management Inc. boosted its position in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning in the 1st quarter valued at $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning in the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at $27,000. Finally, Riverview Trust Co acquired a new position in shares of Owens Corning in the 1st quarter valued at $28,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Company Profile

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.