Julian Francis Sells 2,679 Shares of Owens Corning Inc (OC) Stock
Owens Corning Inc (NYSE:OC) insider Julian Francis sold 2,679 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $74.12, for a total transaction of $198,567.48. Following the completion of the sale, the insider now directly owns 25,643 shares of the company’s stock, valued at approximately $1,900,659.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Owens Corning Inc (OC) opened at 75.20 on Thursday. Owens Corning Inc has a 12 month low of $46.45 and a 12 month high of $75.86. The company has a market capitalization of $8.36 billion, a PE ratio of 21.60 and a beta of 1.04. The stock’s 50 day moving average is $68.39 and its 200-day moving average is $63.92.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, analysts expect that Owens Corning Inc will post $4.28 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its stake in Owens Corning by 97.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 101,402 shares of the construction company’s stock valued at $6,786,000 after acquiring an additional 50,091 shares during the period. Castleark Management LLC lifted its stake in shares of Owens Corning by 27.5% in the 2nd quarter. Castleark Management LLC now owns 71,235 shares of the construction company’s stock worth $4,767,000 after purchasing an additional 15,375 shares during the period. Nomura Holdings Inc. lifted its stake in shares of Owens Corning by 184.1% in the 2nd quarter. Nomura Holdings Inc. now owns 11,226 shares of the construction company’s stock worth $751,000 after purchasing an additional 7,275 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Owens Corning by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock worth $247,000 after purchasing an additional 304 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Owens Corning by 32.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 14,792 shares of the construction company’s stock worth $990,000 after purchasing an additional 3,622 shares during the period. 96.78% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price target on shares of Owens Corning in a report on Monday, June 19th. FBR & Co raised their price target on shares of Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a report on Thursday, July 27th. KeyCorp reissued an “overweight” rating and issued a $75.00 price target (up previously from $70.00) on shares of Owens Corning in a report on Monday, June 26th. Credit Suisse Group assumed coverage on shares of Owens Corning in a report on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 price target for the company. Finally, Macquarie raised 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. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Owens Corning currently has an average rating of “Buy” and an average target price of $71.15.
Owens Corning Company Profile
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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