Large Outflow of Money Witnessed in Owens Corning Inc

Owens Corning Inc (OC) : Fridays money flow analysis of Owens Corning Inc (OC) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $16.46 million. In comparison, the inflow of money on upticks was a meager $10.13 million. The dollar value of composite uptick trades minus the downtick trades was negative $6.33 million. The uptick to downtick ratio of 0.62 in the money flow shows weakness. The uptick block trades were valued at $2.7 million. The downtick transaction value was high at $8.05 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.33. Hence, the net money flow in the stock was negative ($5.36 million). Owens Corning Inc (OC) gained $0.39 at $54.61, a change of 0.72% over the previous days close.


Owens Corning Inc (OC) : The consensus price target for Owens Corning Inc (OC) is $53.9 for the short term with a standard deviation of $5.53. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $61, however, the pessimist price target for the company is $42.

Owens Corning Inc (NYSE:OC): stock turned positive on Friday. Though the stock opened at $54.07, the bulls momentum made the stock top out at $54.88 level for the day. The stock recorded a low of $53.75 and closed the trading day at $54.61, in the green by 0.72%. The total traded volume for the day was 1,209,520. The stock had closed at $54.22 in the previous days trading.

In a related news,The officer (Vice President, Controller) of Owens Corning, Schmidt Kelly sold 2,000 shares at $50 on April 11, 2016. The Insider selling transaction had a total value worth of $100,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.