Stocks of Owens Corning Inc (NYSE:OC) rallied by 1.21% during the past week but lost 1.94% on a 4-week basis. The company has outperformed the S&P 500 by 2.43% in the past week but underperformed the index by 2.84% in the last 4 weeks.
Owens Corning Inc (NYSE:OC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.67 and $49.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $50.00, notching a gain of 0.62% for the day. The total traded volume was 1,782,684 . The stock had closed at $49.69 on the previous day.
The company shares have rallied 20.54% from its 1 Year high price. On Apr 25, 2016, the shares registered one year high at $52.52 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $49.61 and the 200 Day Moving Average price is recorded at $46.95.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Vice President, Controller) of Owens Corning, Schmidt Kelly had sold 2,000 shares worth of $100,000 in a transaction dated April 11, 2016. In this transaction, 2,000 shares were sold at $50 per share.
Many analysts have stated their opinion on the company shares. Equity Analysts at the FBR Capital downgrades the rating on Owens Corning Inc (NYSE:OC). The brokerage firm has issued a Market Perform rating on the shares. The shares were previously rated Outperform. The rating by the firm was issued on April 28, 2016. Currently 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 -18.19% . Institutional Investors own 97.88% of Owens Corning Inc shares. During last six month period, the net percent change held by insiders has seen a change of -18.19%.
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.