Owens Corning Inc (OC) has been under a strong bear grip, hence the stock is down -2.99% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.56% in the past 1 week. The stock has risen by 0.62% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.99% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.68% and the 50-Day Moving Average is 2.87%. Owens Corning Inc (NYSE:OC): On Fridays trading session , Opening price of the stock was $54.06 with an intraday high of $54.195. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $53.56. However, the stock managed to close at $53.79, a loss of 0.46% for the day. On the previous day, the stock had closed at $54.04. The total traded volume of the day was 815,104 shares.
The company Insiders own 2% of Owens Corning Inc shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -17.71% . During last six month period, the net percent change held by insiders has seen a change of -17.73%. Also, Credit Suisse initiates coverage on Owens Corning Inc (NYSE:OC). The current rating of the shares is Underperform, according to the research report released by the firm. The brokerage firm announces the price target at $51 per share. The rating by the firm was issued on August 11, 2016.
Owens Corning is a holding company. The Company is engaged in composite and building materials systems. The Companys 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 Company operates under three segments: Composites, Insulation and Roofing. The Composites segment is comprised of the Companys Reinforcements and Downstream businesses. Insulation segment includes products, such as thermal and acoustical batts, loosefill insulation, foam sheathing and accessories. The Roofing segment includes products, such as laminate and strip asphalt roofing shingles. The Companys subsidiaries are Owens Corning Sales, LLC and Owens Corning Receivables LLC.