OC Stock Summary and Trading Ideas (Owens-Corning | NYSE:OC)

Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials. It has an integrated business model with three reportable segments: Composites, Insulation, and Roofing. It generates maximum revenue from the Roofing segment. Its Roofing segment laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt. It meets the growing demand for longer-lasting, aesthetically attractive laminate products with modest capital investment. Geographically the company generates the majority of its revenue from the United States.

Owens-Corning trades on the NYSE stock market under the symbol OC.

As of April 25, 2024, OC stock price declined to $163.69 with 68,646 million shares trading.

OC has a beta of 1.57, meaning it tends to be more sensitive to market movements. OC has a correlation of 0.46 to the broad based SPY ETF.

OC has a market cap of $14.18 billion. This is considered a Large Cap stock.

Last quarter Owens-Corning reported $2 billion in Revenue and $3.59 earnings per share. This beat revenue expectation by $20 million and exceeded earnings estimates by $.51.

In the last 3 years, OC stock traded as high as $173.65 and as low as $72.97.

The top ETF exchange traded funds that OC belongs to (by Net Assets): IJH, VTI, VB, VBR, VXF.

OC has outperformed the market in the last year with a price return of +63.6% while the SPY ETF gained +22.7%. OC has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +11.9% and -1.3%, respectively, while the SPY returned +3.2% and -2.9%, respectively.

OC support price is $162.49 and resistance is $167.95 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OC stock will trade within this expected range on the day.