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

Owens Corning (NYSE:OC) insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Owens Corning Stock Performance

NYSE OC traded down $2.05 on Tuesday, hitting $183.21. The stock had a trading volume of 1,072,545 shares, compared to its average volume of 695,269. The company’s 50-day moving average is $191.40 and its two-hundred day moving average is $178.03. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.14 and a beta of 1.42. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a one year low of $138.70 and a one year high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the company earned $4.15 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently disclosed 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 represents a $2.76 annualized dividend and a yield of 1.51%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning’s payout ratio is presently 20.43%.

Analyst Ratings Changes

A number of research analysts recently commented on OC shares. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $195.00 to $225.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.83.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Owens Corning by 46.2% in the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after buying an additional 116 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Owens Corning by 90.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,457 shares of the construction company’s stock valued at $253,000 after buying an additional 690 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Owens Corning in the 2nd quarter worth approximately $259,000. Fifth Third Bancorp boosted its position in shares of Owens Corning by 43.4% in the second quarter. Fifth Third Bancorp now owns 1,321 shares of the construction company’s stock valued at $229,000 after acquiring an additional 400 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Owens Corning in the second quarter worth $534,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.