Owens Corning Inc (OC) : Traders are bullish on Owens Corning Inc (OC) as it has outperformed the S&P 500 by a wide margin of 5.16% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.58%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.08% in the last 1 week, and is up 9.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 6.16% and the 50-Day Moving Average is 8.64%.
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 $54.51 and $54.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $54.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $54.88, notching a gain of 1.35% for the day. The total traded volume was 1,409,895 . The stock had closed at $54.15 on the previous day.
The company Insiders own 2% of Owens Corning Inc shares according to the proxy statements. Institutional Investors own 97.74% of Owens Corning Inc shares. During last six month period, the net percent change held by insiders has seen a change of -18.19%. In a related news, The officer (Vice President, Controller), of Owens Corning, Schmidt Kelly had unloaded 2,000 shares at $50 per share in a transaction on April 11, 2016. The total value of transaction was $100,000. The Insider information was revealed by 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.