It is currently trading at $82.69 which is just over the 50 day moving average of $78.06 and which is impressively higher than the 200 day moving average of $68.78. The 50 day moving average went up by +5.93% and the 200 day average moved up $13.91. 1,296K shares changed hands on Tuesday. Overall, volume was up 16.06% over the stocks normal daily volume.
Traders are a little more bearish on shares of the company recently if you take into consideration the rise in short interest. The stock experienced a rise in short interest from September 29, 2017 to October 13, 2017 of 4.01%. Short interest grew 97,072 over that timeframe. Days to cover increased 1.0 to 4.0 and the short interest percentage is 0.02% as of October 13.
There has been some selling insider activity on Owens Corning Inc New (NYSE:OC) recently. Michael H. Thaman, Chairman, President and CEO let go of $9,805,114 worth of shares at a price of $75.02 on September 14th. That brings the Chairman, President and CEO’s holdings to $55,439,209 per an SEC filing yesterday. Sr. VP Organization & Admin Daniel T. Smith sold 41,425 shares at an average price of $70.89 on Mon the 28th. The Sr. VP Organization & Admin now owns $3,034,634 of the stock as recorded in a recent Form 4 SEC filing.
Arnaud Genis, President, Composites reported the sale of 6,000 shares of (OC). The shares were purchased at an average price of $70.75. Genis now owns $4,129,961 of the stock according to the SEC filing.
Here are a few substantial investment firms who have updated their positions. Regentatlantic Capital LLC cut its holdings by selling 1,505 shares a decrease of 5.2% in the quarter. Regentatlantic Capital LLC currently owns 27,264 shares valued at $2,109,000. The value of the position overall is up by 9.6%. Parkside Financial Bank & Trust grew its position by buying 141 shares an increase of 1,007.1% as of 09/30/2017. Parkside Financial Bank & Trust claims 155 shares worth $12,000. The total value of its holdings increased 1,100.0%.
As of the end of the quarter Aperio Group, LLC had disposed of a total of 1,481 shares trimming its stake by 1.3%. The value of the total investment in Owens Corning Inc New increased from $7,778,000 to $8,876,000 increasing 14.1% quarter to quarter. As of quarter end Cornerstone Advisors, Inc. had sold 107 shares trimming its position 29.4%. The value of the company’s investment in Owens Corning Inc New went from $24,000 to $20,000 a change of $4,000 since the last quarter.
On August 31, 2017 the stock rating was changed to “Outperform” in a report from Wells Fargo which was a boost from the previous “Market Perform” rating. October 3 investment analysts at Citigroup kept the stock rating at “Sell” and moved up the price target to $69.00 from $43.00.
On October 17 Credit Suisse made no change to the company rating of “Outperform” and raised the price expectation from $75.00 to $90.00. On October 20 the company was upgraded to “Neutral” from “Sell” by Citigroup.
October 26 investment analysts at SunTrust Robinson Humphrey made no change to the stock rating of “Equal-Weight” and raised the price target to $75.00 from $48.00. On October 26 Barclays left the stock rating at “Equal-Weight” but raised the price target to $75.00 from $55.00.
The company is up by 1.47% percent from yesterday’s close. Additionally Owens Corning Inc New announced a dividend to be paid on Thursday November 2nd, 2017. The dividend payment will be $0.200 per share for the quarter or $0.80 on an annualized basis. This dividend amount will represent a yield of $1.01. The ex-dividend date is set for Friday the 13th of October 2017.
The company currently has a P/E ratio of 23.75 and the market cap of the company is 9.19B. In the last earnings report the EPS was $3.48 and is expected to be $4.33 for the current year with 111,193,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.94 with next year’s EPS projected to be $5.10.
Owens Corning, launched on July 21, 2006, is involved in the business of composite and building materials systems, delivering a range of products and services. The Business’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications. The Business’s segments include Composites, Insulation and Roofing..