Marcio A. Sandri Sells 3,050 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OC) insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Owens Corning Stock Performance

NYSE OC opened at $174.28 on Friday. The company’s 50 day moving average is $167.69 and its 200-day moving average is $169.24. The firm has a market cap of $15.10 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the firm posted $4.22 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.38%. Owens Corning’s dividend payout ratio is currently 19.43%.

Institutional Investors Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently modified their holdings of OC. SG Americas Securities LLC grew its stake in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after acquiring an additional 20,971 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Owens Corning by 66.0% in the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after purchasing an additional 84,958 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Owens Corning by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after buying an additional 14,011 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Owens Corning by 11.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock valued at $6,348,000 after buying an additional 4,259 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its position in Owens Corning by 452.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after buying an additional 15,667 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of several recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Evercore ISI reduced their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada upped their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Loop Capital lifted their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

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.