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Morris W. Howard, a director at Owens Corning (NYSE:OC), recently sold 272 shares of the company’s common stock. The sale took place on March 7, 2025, at a price of $144.29 per share, amounting to a total transaction value of $39,246. Following this transaction, Howard retains ownership of 41,721.541 shares in the company. Owens Corning, headquartered in Toledo, Ohio, is known for its production of building materials and composite solutions. The company maintains strong financials with a current ratio of 1.47 and has consistently paid dividends for 12 consecutive years. InvestingPro subscribers can access 12 additional key insights about OC’s financial health and market position.
In other recent news, Owens Corning reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an adjusted earnings per share (EPS) of $3.22 and revenue of $2.84 billion. The company experienced a 23% year-over-year revenue growth for the quarter, attributed to strategic acquisitions and expansions in manufacturing capabilities. RBC Capital Markets maintained an Outperform rating on Owens Corning but reduced its price target from $224 to $212, citing a 6% lower forecast for fiscal year 2025 EPS. Despite this adjustment, RBC analysts remain optimistic about the company’s prospects, noting strong free cash flow and anticipated proceeds from the sale of its Glass Reinforcements business.
Benchmark analysts also maintained a Hold rating on Owens Corning, acknowledging the company’s robust fourth-quarter performance but revising EPS estimates downwards by $2.00 for the current and following year. The analysts anticipate stable end market conditions in the near term. In executive news, Owens Corning announced the promotion of Gina Beredo to Executive Vice President, Chief Administrative Officer, and General Counsel. This move aligns with the company’s focus on internal talent elevation and strategic leadership alignment. These developments highlight Owens Corning’s financial health and strategic initiatives amid market challenges.
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