Kelly Schmidt Sells 1,462 Shares of Owens Corning Inc (OC) Stock
Owens Corning Inc (NYSE:OC) VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $70.35, for a total transaction of $102,851.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Owens Corning Inc (NYSE OC) opened at 70.19 on Wednesday. Owens Corning Inc has a 52-week low of $46.45 and a 52-week high of $70.65. The stock’s 50 day moving average is $66.95 and its 200-day moving average is $63.01. The firm has a market cap of $7.80 billion, a P/E ratio of 20.16 and a beta of 1.11.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. Equities analysts anticipate that Owens Corning Inc will post $4.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, July 13th. This represents a $0.80 annualized dividend and a yield of 1.14%. Owens Corning’s payout ratio is currently 23.05%.
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A number of institutional investors have recently bought and sold shares of OC. Vanguard Group Inc. raised its position in Owens Corning by 1.8% in the second quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after buying an additional 190,866 shares during the period. BlackRock Inc. raised its position in Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after buying an additional 6,338,177 shares during the period. Dimensional Fund Advisors LP raised its position in Owens Corning by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock worth $245,337,000 after buying an additional 27,809 shares during the period. Victory Capital Management Inc. raised its position in Owens Corning by 7.9% in the first quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock worth $202,370,000 after buying an additional 240,258 shares during the period. Finally, State Street Corp raised its position in Owens Corning by 0.4% in the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after buying an additional 8,490 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.
Several research analysts recently commented on OC shares. Instinet restated a “buy” rating and issued a $74.00 price target on shares of Owens Corning in a report on Thursday, June 1st. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price target on shares of Owens Corning in a report on Monday, June 19th. Macquarie upgraded shares of Owens Corning from an “underperform” rating to a “neutral” rating and raised their price target for the company from $54.00 to $68.00 in a report on Tuesday, June 20th. Credit Suisse Group started coverage on shares of Owens Corning in a report on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, BidaskClub upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Owens Corning has a consensus rating of “Buy” and an average price target of $70.53.
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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