Owens Corning Inc (OC) has risen sharply, recording gains of 8.66% in the past 4 weeks. However, the stock has corrected -0.49% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.78% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
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 $54.07 and $53.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $54.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $54.61, notching a gain of 0.72% for the day. The total traded volume was 1,209,520 . The stock had closed at $54.22 on the previous day.
The stock has recorded a 20-day Moving Average of 3.5% and the 50-Day Moving Average is 6.64%. Owens Corning is up 5.84% in the last 3-month period. Year-to-Date the stock performance stands at 16.97%.
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.