Owens Corning (NYSE:OC) Insider Gunner Smith Sells 17,450 Shares

Owens Corning (NYSE:OC) insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Owens Corning Price Performance

Owens Corning stock traded down $2.05 during midday trading on Tuesday, reaching $183.21. The company’s stock had a trading volume of 1,072,545 shares, compared to its average volume of 695,269. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The firm has a market capitalization of $15.72 billion, a PE ratio of 15.77, a P/E/G ratio of 2.14 and a beta of 1.42. The stock’s 50 day simple moving average is $191.40 and its 200 day simple moving average is $178.03.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business posted $4.15 EPS. On average, equities research analysts forecast that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be given a dividend of $0.69 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.51%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Institutional Trading of Owens Corning

A number of large investors have recently made changes to their positions in the stock. Alpha DNA Investment Management LLC lifted its stake in shares of Owens Corning by 147.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Owens Corning during the 3rd quarter valued at $1,046,000. Atria Investments Inc increased its holdings in Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after purchasing an additional 6,373 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Owens Corning in the second quarter valued at about $3,598,000. Finally, Retirement Systems of Alabama lifted its stake in shares of Owens Corning by 3.1% during the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock worth $34,717,000 after purchasing an additional 5,916 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on OC shares. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $195.00 to $225.00 in a research report on Tuesday. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.83.

About Owens Corning

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.