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Friday, September 29, 2023

Investing In Owens Corning (NYSE: OC): Why Should You?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Owens Corning (OC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.01, or 0.01%, to $142.51. The Owens Corning has recorded 11,331 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Speaking of Sustainability: Zac Graffice, Warehouse Leader.

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Stocks Info

The company is listed on the NYSE and operates within the Building Products & Equipment industry segment. At the end of the last regular session, the stock closed at $142.50 and fluctuated between $144.22 as its day high and $140.65 as its day low. The current market capitalization of Owens Corning is $12.55B. A total of 0.74 million shares were traded on the day, compared to an average of 805.60K shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, OC has seen 23 BUY and 2 SELL insider trades, representing the acquisition of 3,995 and the disposition of 1,333 shares. Over the last 12 months, there were 113 BUYs and 50 SELLs from insiders. Insiders purchased 320,097 shares during that period but sold 188,449.

In the most recent transaction, Fister Todd W sold 5,375 shares of OC for 136.23 per share on Aug 23. After the transaction, the President, Insulation now owns 26,067 company shares. In a previous transaction on Aug 07, MORRIS W HOWARD sold 1,033 shares at 141.63 per share. OC shares that Director owns now total 40,889.

Among the insiders who sold shares, Doerfler Mari disposed of 300 shares on Jun 07 at a per-share price of $117.91. This resulted in the Vice President and Controller holding 4,873 shares of OC after the transaction. In another insider transaction, Smith Gunner sold 6,900 shares at $115.01 per share on Jun 06. Company shares held by the President, Roofing now total 31,153.

Dividend

The dividend paying company demonstrates a positive outlook for investors and helps them generate immediate cash. Owens Corning pays an annual dividend of $2.08, resulting in a dividend yield of 1.46%, and it has a price to earnings (P/E) ratio of 10.11. OC’s most recent ex-dividend date was 7/14/2023 when it declared a $0.52 quarterly dividend that was paid in cash on 8/4/2023. Previously, the company paid the dividend on 4/6/2023 with an ex-dividend date of 3/2/2023. The OC stock dividend was $0.52 per share in cash.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for OC in the last 3 months, the mean price target is $154.43 with high estimates of $185.00 and low estimates of $113.00. In terms of 52-week highs and lows, OC has a high of $147.00 and a low of $74.22.

As of this writing, OC has an earnings estimate of $3.78 per share for the current quarter. EPS was calculated based on a consensus of 17 estimates, with a high estimate of $4.04 per share and a lower estimate of $2.95. The company reported an EPS of $2.77 in the last quarter, which was 24.80% higher than expectations of $2.22.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. OC’s latest balance sheet shows that the firm has $959.00M in Cash & Short Term Investments as of fiscal 2021. There were $3.12B in debt and $1.70B in liabilities at the time. Its Book Value Per Share was $55.40, while its Total Shareholder’s Equity was $4.33B.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OC is Buy with a score of 3.75.

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