Owens Corning (NYSE:OC) CEO Brian Chambers Sells 7,600 Shares

Owens Corning (NYSE:OCGet Rating) CEO Brian Chambers sold 7,600 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $80.80, for a total transaction of $614,080.00. Following the completion of the transaction, the chief executive officer now owns 183,384 shares in the company, valued at approximately $14,817,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Owens Corning Stock Performance

Shares of NYSE OC opened at $80.76 on Wednesday. The firm has a fifty day moving average price of $85.71 and a 200-day moving average price of $87.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.23. The stock has a market cap of $7.77 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 0.70 and a beta of 1.53. Owens Corning has a 1 year low of $72.97 and a 1 year high of $101.12.

Owens Corning (NYSE:OCGet Rating) last issued its earnings results on Wednesday, July 27th. The construction company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.52. Owens Corning had a net margin of 12.20% and a return on equity of 26.22%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. Owens Corning’s revenue for the quarter was up 16.2% on a year-over-year basis. Equities analysts anticipate that Owens Corning will post 12.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 17th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, October 14th. This represents a $1.40 annualized dividend and a yield of 1.73%. Owens Corning’s dividend payout ratio (DPR) is currently 12.44%.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently bought and sold shares of OC. Lindbrook Capital LLC lifted its position in Owens Corning by 66.3% during the second quarter. Lindbrook Capital LLC now owns 414 shares of the construction company’s stock valued at $31,000 after purchasing an additional 165 shares during the last quarter. Huntington National Bank lifted its position in Owens Corning by 1,566.7% during the first quarter. Huntington National Bank now owns 350 shares of the construction company’s stock valued at $32,000 after purchasing an additional 329 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Owens Corning in the first quarter valued at $37,000. Quadrant Capital Group LLC raised its stake in shares of Owens Corning by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 487 shares of the construction company’s stock valued at $44,000 after acquiring an additional 118 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Owens Corning in the second quarter valued at $45,000. Institutional investors own 93.64% of the company’s stock.

Analysts Set New Price Targets

OC has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on shares of Owens Corning from $90.00 to $77.00 and set a “sell” rating on the stock in a research note on Thursday, June 23rd. UBS Group decreased their price objective on shares of Owens Corning from $137.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, July 28th. StockNews.com raised shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 13th. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $83.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a report on Wednesday, August 17th. They set a “hold” rating and a $103.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $102.92.

Owens Corning Company Profile

(Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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