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

Owens Corning (NYSE:OC) CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a filing with the SEC, which is available at this link.

Owens Corning Stock Up 0.1 %

Shares of NYSE:OC opened at $168.53 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company has a 50 day moving average of $175.63 and a two-hundred day moving average of $162.04. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 5.17 and a beta of 1.42.

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

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Hedge Funds Weigh In On Owens Corning

Several institutional investors and hedge funds have recently made changes to their positions in OC. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after buying an additional 819,201 shares during the last quarter. Norges Bank purchased a new position in shares of Owens Corning during the 4th quarter valued at approximately $118,251,000. Nordea Investment Management AB boosted its stake in shares of Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the last quarter. Swedbank AB purchased a new position in shares of Owens Corning during the 1st quarter valued at approximately $60,424,000. Finally, Bank of Nova Scotia boosted its stake in shares of Owens Corning by 9,571.1% during the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock valued at $21,287,000 after buying an additional 142,131 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OC has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Citigroup upped their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Finally, Jefferies Financial Group initiated coverage on shares of Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.