Owens Corning (NYSE:OC) insider Arnaud Genis sold 59,541 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $81.32, for a total transaction of $4,841,874.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of OC stock opened at $80.89 on Monday. The stock has a market cap of $9,039.21, a PE ratio of 18.38, a P/E/G ratio of 0.79 and a beta of 1.09. Owens Corning has a 1-year low of $59.26 and a 1-year high of $96.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.55.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.07. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. analysts forecast that Owens Corning will post 5.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.84 annualized dividend and a dividend yield of 1.04%. Owens Corning’s payout ratio is currently 19.09%.
Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Owens Corning by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock valued at $247,000 after buying an additional 304 shares during the period. Worth Venture Partners LLC raised its holdings in Owens Corning by 20.7% in the fourth quarter. Worth Venture Partners LLC now owns 3,320 shares of the construction company’s stock valued at $306,000 after buying an additional 570 shares during the period. Penserra Capital Management LLC raised its holdings in Owens Corning by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock valued at $366,000 after buying an additional 627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Owens Corning by 2.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,472 shares of the construction company’s stock valued at $1,738,000 after buying an additional 632 shares during the period. Finally, ETRADE Capital Management LLC raised its holdings in Owens Corning by 5.4% in the fourth quarter. ETRADE Capital Management LLC now owns 12,534 shares of the construction company’s stock valued at $1,152,000 after buying an additional 639 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.
A number of research firms have recently weighed in on OC. Goldman Sachs cut shares of Owens Corning from a “buy” rating to a “neutral” rating and set a $69.00 price target on the stock. in a research note on Wednesday, April 4th. Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. Royal Bank of Canada set a $102.00 price objective on shares of Owens Corning and gave the company a “buy” rating in a research note on Friday, February 23rd. MKM Partners increased their price objective on shares of Owens Corning to $86.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $110.00 price objective (up from $95.00) on shares of Owens Corning in a research note on Monday, January 22nd. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $87.81.
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About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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