Owens Corning (NYSE:OC) Insider Rachel Barthelemy Marcon Sells 700 Shares

Owens Corning Inc (NYSE:OC) insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Trading Up 1.5%

OC opened at $126.07 on Friday. The firm has a market capitalization of $10.15 billion, a P/E ratio of -19.07, a P/E/G ratio of 2.25 and a beta of 1.35. The firm’s 50 day moving average is $115.82 and its 200-day moving average is $116.55. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts expect that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Institutional Trading of Owens Corning

Several hedge funds and other institutional investors have recently bought and sold shares of OC. Itau Unibanco Holding S.A. bought a new stake in Owens Corning in the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new stake in Owens Corning in the first quarter valued at about $30,000. Harbour Investments Inc. increased its holdings in Owens Corning by 66.5% in the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after buying an additional 129 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning during the fourth quarter valued at $37,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Owens Corning during the third quarter valued at $42,000. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Evercore set a $139.00 price target on shares of Owens Corning in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Royal Bank Of Canada lifted their price target on shares of Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Barclays lifted their price target on shares of Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $144.82.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.