Monaco Nicolas Del Sells 3,423 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OC) insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total value of $604,056.81. Following the transaction, the insider now directly owns 11,381 shares in the company, valued at $2,008,405.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Owens Corning Stock Down 0.5 %

OC traded down $0.91 during midday trading on Thursday, reaching $176.60. 384,989 shares of the company were exchanged, compared to its average volume of 653,684. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The company’s fifty day moving average price is $168.78 and its 200 day moving average price is $153.18. The company has a market cap of $15.30 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 5.22 and a beta of 1.45. Owens Corning has a one year low of $105.56 and a one year high of $181.49.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $2.77 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts expect that Owens Corning will post 15.76 EPS for the current year.

Institutional Investors Weigh In On Owens Corning

Institutional investors have recently made changes to their positions in the stock. MV Capital Management Inc. increased its holdings in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the period. NBC Securities Inc. bought a new position in Owens Corning in the first quarter valued at $26,000. Riverview Trust Co bought a new position in Owens Corning in the first quarter valued at $28,000. Contravisory Investment Management Inc. bought a new position in Owens Corning in the fourth quarter valued at $27,000. Finally, Bruce G. Allen Investments LLC bought a new position in Owens Corning in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Jefferies Financial Group initiated coverage on Owens Corning in a research note on Wednesday. They issued a “buy” rating and a $215.00 price objective on the stock. Citigroup boosted their price objective on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Truist Financial boosted their price objective on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada boosted their price objective on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $172.07.

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.