Owens Corning (NYSE:OC) Director Ralph F. Hake sold 8,149 shares of Owens Corning stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $60.00, for a total value of $488,940.00. Following the completion of the sale, the director now directly owns 44,546 shares of the company’s stock, valued at $2,672,760. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Owens Corning (NYSE:OC) traded down 0.33% on Monday, reaching $59.84. The company’s stock had a trading volume of 450,861 shares. The stock’s 50 day moving average price is $56.38 and its 200 day moving average price is $53.34. The company has a market cap of $6.73 billion, a P/E ratio of 17.55 and a beta of 1.09. Owens Corning has a 12 month low of $44.06 and a 12 month high of $60.99.
Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.12. The company earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. Owens Corning had a net margin of 6.92% and a return on equity of 10.75%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Owens Corning will post $3.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. Owens Corning’s dividend payout ratio (DPR) is presently 23.46%.
OC has been the subject of several research reports. Zacks Investment Research cut Owens Corning from a “hold” rating to a “sell” rating in a research note on Tuesday, January 17th. Goldman Sachs Group Inc raised Owens Corning from a “neutral” rating to a “buy” rating and lifted their target price for the company from $61.00 to $69.00 in a research note on Friday, February 17th. MKM Partners reissued a “sell” rating and issued a $46.00 target price (up from $45.00) on shares of Owens Corning in a research note on Friday, February 10th. Zelman & Associates raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Thursday, February 9th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $65.00 target price (up from $60.00) on shares of Owens Corning in a research note on Thursday, February 9th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $57.72.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its position in shares of Owens Corning by 100.0% in the third quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock valued at $117,000 after buying an additional 1,100 shares during the period. First Bank & Trust bought a new position in shares of Owens Corning during the fourth quarter valued at about $157,000. DekaBank Deutsche Girozentrale bought a new position in shares of Owens Corning during the third quarter valued at about $197,000. CIBC Asset Management Inc bought a new position in shares of Owens Corning during the third quarter valued at about $200,000. Finally, Cetera Advisors LLC bought a new position in shares of Owens Corning during the third quarter valued at about $209,000.
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.