Rachel Barthelemy Marcon Sells 900 Shares of Owens Corning (NYSE:OC) Stock

Key Points

• Insider sale: Rachel Barthelemy Marcon sold 900 Owens Corning shares for approximately $129,663 under a pre-arranged Rule 10b5-1 plan, reducing her direct ownership by 4.03% to 21,449 shares.
• Stock and earnings: Owens Corning shares fell to $133.81, while the company’s latest quarterly results exceeded expectations with $3.93 in EPS versus a $3.09 consensus estimate and $2.76 billion in revenue.
• Analyst outlook and dividend: Analysts maintain a “Moderate Buy” consensus with an average price target of $165.31. The company pays a quarterly dividend of $0.79 per share, equivalent to a 2.4% annualized yield.

Owens Corning Inc (NYSE:OC - Get Free Report) insider Rachel Barthelemy Marcon sold 900 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider directly owned 21,449 shares of the company's stock, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Owens Corning Price Performance

NYSE OC traded down $4.34 on Tuesday, hitting $133.81. The company had a trading volume of 1,281,854 shares, compared to its average volume of 1,246,655. The company has a market capitalization of $10.58 billion, a PE ratio of -16.60, a PEG ratio of 2.15 and a beta of 1.32. The company's fifty day moving average price is $145.43 and its 200-day moving average price is $127.78. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. The company's revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $4.21 earnings per share. As a group, analysts predict that Owens Corning Inc will post 9.9 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. Owens Corning's dividend payout ratio is presently -39.21%.

Analyst Upgrades and Downgrades

OC has been the topic of a number of research analyst reports. Evercore reaffirmed an "outperform" rating and issued a $193.00 price target on shares of Owens Corning in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their price objective on Owens Corning from $148.00 to $172.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. DA Davidson began coverage on Owens Corning in a report on Monday, August 24th. They issued a "buy" rating and a $190.00 price objective on the stock. Truist Financial set a $198.00 target price on shares of Owens Corning in a research note on Thursday, August 6th. Finally, Wells Fargo & Company upped their target price on shares of Owens Corning from $150.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $165.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in shares of Owens Corning by 178.2% during the 4th quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company's stock valued at $20,888,000 after acquiring an additional 119,566 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Owens Corning during the first quarter worth about $2,576,000. Tiptree Advisors LLC acquired a new stake in Owens Corning during the second quarter worth about $11,445,000. Raiffeisen Bank International AG raised its stake in Owens Corning by 12.4% during the fourth quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company's stock worth $39,976,000 after purchasing an additional 38,885 shares during the period. Finally, Systematic Financial Management LP raised its stake in Owens Corning by 10.8% during the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company's stock worth $27,355,000 after purchasing an additional 23,873 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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