The SVP & CFO of Owens Corning (NYSE: OC) is Selling Shares

By Carrie Williams

Today, the SVP & CFO of Owens Corning (NYSE: OC), Michael Mcmurray, sold shares of OC for $1.18M.

In addition to Michael Mcmurray, 16 other OC executives reported Sell trades in the last month. Following Michael Mcmurray’s last OC Sell transaction on February 07, 2017, the stock climbed by 6.3%.

Based on Owens Corning’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.38 billion and quarterly net profit of $86 million. In comparison, last year the company earned revenue of $1.27 billion and had a net profit of $109 million. The company has a one year high of $61.59 and a one year low of $44.68. OC’s market cap is $6.91B and the company has a P/E ratio of 18.02.

Five different firms, including Citigroup and Credit Suisse, currently also have a Sell rating on the stock. Based on 7 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $61.86, reflecting a -1.1% downside.

In the last 30 days, insiders have sold $3.32M worth of OC shares and purchased $34.67K worth of OC shares. The insider sentiment on Owens Corning has been negative according to 148 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation, and Roofing. The Composites segment is comprised of the reinforcements, which manufactures, fabricates, and sell glass reinforcements in the form of fiber and the downstream business, which also manufactures and sell glass fiber and/or glass mat directly to a small number of major shingle manufacturers, including the roofing segment of the company. The Insulation segment help customers conserve energy, provide improved acoustical performance and offer convenience of installation and use, making its customers a preferred insulating product for a new home construction and remodeling. The Roofing segment is consists of laminate and strip asphalt roofing shingles and other products like oxidized asphalt, and roofing accessories. The company was founded on October 31, 1938 and is headquartered in Toledo, OH.