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Owens Corning (OC) – Don’t Believe the Hype: Check The Facts

Owens Corning (NYSE: OC) is 26.87% higher on its value in year-to-date trading and has touched a low of $72.97 and a high of $112.17 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OC stock was last observed hovering at around $108.12 in the last trading session, with the day’s gains setting it 0.1%.

Currently trading at $108.22, the stock is 1.79% and 8.51% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.99 million and changing 0.09% at the moment leaves the stock 17.78% off its SMA200. OC registered 16.68% gain for a year compared to 6-month gain of 20.70%. The firm has a 50-day simple moving average (SMA 50) of $1.13 and a 200-day simple moving average (SMA200) of $4.72.

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The stock witnessed a 8.27% loss in the last 1 month and extending the period to 3 months gives it a 10.26%, and is -0.80% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.37% over the week and 2.50% over the month.

Owens Corning (OC) has around 19000 employees, a market worth around $9.88B and $9.75B in sales. Current P/E ratio is 7.84 and Fwd P/E is 9.59. Profit margin for the company is 13.50%. Distance from 52-week low is 48.31% and -3.52% from its 52-week high. The company has generated returns on investments over the last 12 months (17.70%).

Owens Corning (OC) Analyst Forecasts

Owens Corning is expected to release its quarterly report on 07/26/2023.The EPS is expected to grow by 33.10% this year

Owens Corning (OC) Top Institutional Holders

The shares outstanding are 91.30M, and float is at 90.03M with Short Float at 3.33%.

Owens Corning (OC) Insider Activity

A total of 115 insider transactions have happened at Owens Corning (OC) in the last six months, with sales accounting for 50 and purchases happening 65 times. The most recent transaction is an insider sale by Smith Gunner, the company’s President, Roofing. SEC filings show that Smith Gunner sold 3,400 shares of the company’s common stock on May 18 at a price of $110.00 per share for a total of $0.37 million. Following the sale, the insider now owns 37815.0 shares.

Owens Corning disclosed in a document filed with the SEC on May 18 that Russell Paula (EVP, Chief HR Officer) sold a total of 2,000 shares of the company’s common stock. The trade occurred on May 18 and was made at $110.00 per share for $0.22 million. Following the transaction, the insider now directly holds 19364.0 shares of the OC stock.

Still, SEC filings show that on Apr 18, Sandri Marcio A (President, Composites) disposed off 8,000 shares at an average price of $100.00 for $0.8 million. The insider now directly holds 62,962 shares of Owens Corning (OC).

Owens Corning (OC): Who are the competitors?

The company’s main competitors (and peers) include Corning Incorporated (GLW) that is trading -6.61% down over the past 12 months and Masco Corporation (MAS) that is -8.20% lower over the same period. PPG Industries Inc. (PPG) is 8.63% up on the 1-year trading charts.

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