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Jose Mendez-Andino, Executive Vice President and Chief R&D Officer at Owens Corning (NYSE:OC), recently sold shares of the company, according to a recent SEC filing. On February 3 and 4, Mendez-Andino sold a total of 564 shares at prices ranging from $180.28 to $181.00, resulting in an aggregate sale value of $101,855. Following these transactions, he retains ownership of 11,256.583 shares of Owens Corning. Additionally, 514 shares were withheld to satisfy tax obligations upon the vesting of restricted stock units. The timing of this transaction comes just days before the company’s upcoming earnings report on February 12, with five analysts recently revising their earnings expectations upward. Investors seeking deeper insights into insider trading patterns and comprehensive analysis can access the full Pro Research Report on InvestingPro.
In other recent news, Owens Corning, a significant player in the building and construction materials industry, has been making headlines with several key developments. Fitch Ratings upgraded the company’s ratings to ’BBB+’ from ’BBB’, highlighting the firm’s improved business profile and strong financial performance. This upgrade is largely due to the company’s successful $3.9 billion acquisition of Masonite International (NYSE:DOOR) Corporation, which has bolstered Owens Corning’s market position and diversified its product portfolio.
In addition to the upgrade, Owens Corning has announced a 15% increase in its quarterly cash dividend, a move indicative of its robust financial health. The company also announced changes to its Board of Directors, with the appointment of Michelle T. Collins as a new independent director and the anticipated departure of long-serving board member, W. Howard Morris.
Furthermore, the company recently revealed its third-quarter 2024 financial results during an earnings call led by Chair and CEO Brian Chambers and CFO Todd Fister. Despite not divulging specific figures, the call provided insights into the company’s financial health and future outlook. These developments underscore Owens Corning’s continued growth and strong market presence in the building and construction materials industry.
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