Sen. Tommy Tuberville Sells Off Shares of Owens Corning (NYSE:OC)

Senator Tommy Tuberville (R-Alabama) recently sold shares of Owens Corning (NYSE:OC). In a filing disclosed on November 15th, the Senator disclosed that they had sold between $15,001 and $50,000 in Owens Corning stock on October 29th.

Senator Tommy Tuberville also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Travelers Companies (NYSE:TRV) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Microsoft (NASDAQ:MSFT) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Kimberly-Clark (NYSE:KMB) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Corteva (NYSE:CTVA) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of McDonald’s (NYSE:MCD) on 10/29/2024.
• Sold $15,001 – $50,000 in shares of Medtronic (NYSE:MDT) on 8/26/2024.

Owens Corning Price Performance

Owens Corning stock opened at $193.99 on Monday. The firm has a market cap of $16.64 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock’s fifty day moving average price is $179.12 and its two-hundred day moving average price is $174.64. Owens Corning has a one year low of $128.79 and a one year high of $199.54.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $4.15 earnings per share. As a group, research analysts expect that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in OC. SG Americas Securities LLC boosted its position in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after acquiring an additional 20,971 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after purchasing an additional 14,011 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in Owens Corning in the first quarter worth approximately $997,000. Twin Tree Management LP lifted its stake in Owens Corning by 61.8% in the first quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock valued at $1,501,000 after buying an additional 3,436 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Owens Corning by 22.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,161 shares of the construction company’s stock worth $21,710,000 after buying an additional 23,593 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.62.

About Senator Tuberville

Tommy Tuberville (Republican Party) (also known as Coach) is a member of the U.S. Senate from Alabama. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Tuberville (Republican Party) ran for election to the U.S. Senate to represent Alabama. He won in the general election on November 3, 2020. Tuberville was head coach for several college football teams between 1995 and 2016, including at Auburn University and the University of Cincinnati. Tommy Tuberville was born in Camden, Arkansas, and lives in Auburn, Alabama. Tuberville’s career experience includes working as a studio analyst with ESPN and as the head football coach of the University of Mississippi, the University of Auburn, Texas Tech University, and the University of Cincinnati.

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.