Todd W. Fister Sells 3,000 Shares of Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OC) CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Owens Corning Stock Performance

Shares of OC opened at $168.37 on Wednesday. The firm has a fifty day moving average of $175.56 and a 200-day moving average of $162.00. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 5.17 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a 1 year low of $109.95 and a 1 year high of $184.00.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. Owens Corning’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.77 EPS. As a group, equities analysts anticipate that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s payout ratio is currently 19.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Owens Corning by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after purchasing an additional 67 shares during the period. Avantax Advisory Services Inc. increased its stake in Owens Corning by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after buying an additional 69 shares during the period. GAMMA Investing LLC raised its position in shares of Owens Corning by 7.5% during the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after buying an additional 77 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after acquiring an additional 78 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after acquiring an additional 78 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Loop Capital raised their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Citigroup boosted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Jefferies Financial Group began coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Finally, UBS Group lifted their target price on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.00.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.