Owens Corning Sees Unusually High Options Volume (OC)
Owens Corning (NYSE:OC) saw some unusual options trading activity on Tuesday. Stock investors acquired 3,482 call options on the stock. This is an increase of 1,550% compared to the typical daily volume of 211 call options.
In other news, CFO Michael C. Mcmurray sold 18,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $90.78, for a total value of $1,634,040.00. Following the transaction, the chief financial officer now directly owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Howard Morris sold 2,026 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $81.95, for a total transaction of $166,030.70. The disclosure for this sale can be found here. Insiders sold 129,446 shares of company stock worth $11,156,808 over the last three months. Insiders own 1.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of Owens Corning in the fourth quarter worth about $119,000. Strs Ohio bought a new position in shares of Owens Corning in the fourth quarter worth about $129,000. Grove Bank & Trust lifted its holdings in shares of Owens Corning by 213.5% in the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after acquiring an additional 1,110 shares during the last quarter. LS Investment Advisors LLC bought a new position in shares of Owens Corning in the fourth quarter worth about $198,000. Finally, Lakeview Capital Partners LLC bought a new position in shares of Owens Corning in the fourth quarter worth about $203,000. 94.39% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.00%. Owens Corning’s dividend payout ratio (DPR) is currently 25.07%.
OC has been the topic of several research reports. Bank of America upped their price target on shares of Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Stifel Nicolaus restated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research note on Thursday, October 26th. Argus initiated coverage on shares of Owens Corning in a research note on Wednesday, December 6th. They issued a “buy” rating and a $109.00 price target on the stock. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Wednesday, December 27th. Finally, Seaport Global Securities upped their price target on shares of Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $85.45.
COPYRIGHT VIOLATION WARNING: “Owens Corning Sees Unusually High Options Volume (OC)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2018/02/09/owens-corning-sees-unusually-high-options-volume-oc.html.
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.
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.