Owens Corning (NYSE: OC) is 12.08% higher on its value in year-to-date trading and has touched a low of $89.60 and a high of $163.44 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 $160.65 in the last trading session, with the day’s gains setting it 5.49%.
Currently trading at $166.14, the stock is 7.97% and 9.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.82 million and changing 3.42% at the moment leaves the stock 20.20% off its SMA200. OC registered 78.91% gain for a year compared to 6-month gain of 22.27%. The firm has a 50-day simple moving average (SMA 50) of $1.66 and a 200-day simple moving average (SMA200) of $7.08.
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The stock witnessed a 15.64% loss in the last 1 month and extending the period to 3 months gives it a 10.81%, and is 5.47% up 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 2.27% over the week and 2.08% over the month.
Owens Corning (OC) has around 18000 employees, a market worth around $14.45B and $9.68B in sales. Current P/E ratio is 12.67 and Fwd P/E is 11.19. Profit margin for the company is 12.36%. Distance from 52-week low is 85.42% and 1.65% from its 52-week high. The company has generated returns on investments over the last 12 months (15.05%).
Owens Corning quarterly earnings per share for the current quarter are estimated at $3.05 with sales reaching $2.27B over the same period.The EPS is expected to shrink by -3.22% this year, but quarterly earnings will post -1.00% year-over-year. Quarterly sales are estimated to shrink -2.70% in year-over-year returns.
955 institutions hold shares in Owens Corning (OC), with institutional investors hold 98.06% of the company’s shares. The shares outstanding are 87.20M, and float is at 86.11M with Short Float at 1.89%. Institutions hold 97.16% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 10.59 million shares valued at $1.38 billion. The investor’s holdings represent 11.79% of the OC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 9.2 million shares valued at $1.2 billion to account for 10.24% of the shares outstanding. The other top investors are Davis Selected Advisers, LP which holds 4.18 million shares representing 4.65% and valued at over $544.87 million, while State Street Corporation holds 4.36% of the shares totaling 3.92 million with a market value of $511.65 million.
Owens Corning (OC) Insider Activity
The most recent transaction is an insider sale by Mendez-Andino Jose, the company’s EVP, Chief R&D Officer. SEC filings show that Mendez-Andino Jose sold 2,833 shares of the company’s common stock on Mar 15 ’24 at a price of $156.72 per share for a total of $0.44 million. Following the sale, the insider now owns 14814.0 shares.
Owens Corning disclosed in a document filed with the SEC on Mar 14 ’24 that Russell Paula (EVP, Chief HR Officer) sold a total of 3,765 shares of the company’s common stock. The trade occurred on Mar 14 ’24 and was made at $162.00 per share for $0.61 million. Following the transaction, the insider now directly holds 20419.0 shares of the OC stock.
Still, SEC filings show that on Feb 14 ’24, Smith Gunner (President, Roofing) disposed off 7,442 shares at an average price of $148.99 for $1.11 million. The insider now directly holds 36,140 shares of Owens Corning (OC).
