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Owens Corning: market outlook remains positive

Shares in Owens Corning Inc (NYSE:OC) recently dropped 1.64%, however, the bigger picture is still very bullish; the shares have posted positive gains of 0.22% in the last 4 weeks.

The counter has underperformed the S&P 500 by 1.7% last week but Owens Corning Inc has outperformed the index in 4 weeks by 1.59%.
The company shares have dropped 3.65% in the past 52 Weeks. On April 22, 2015 the shares registered a one-year high of $45.7 and one year low was seen on October 15, 2014 at $28.38. The 50-day moving average is $40.35 and the 200-day moving average is recorded at $39.28. S&P 500 has rallied 8.07% during the last 52 weeks.
The shares closed down 0.26 points or 0.64% at $40.15 with 458,618 shares getting traded. Post opening the session at $40.35, the shares hit an intraday low of $40.05 and an intraday high of $40.56 and the price vacillated in this range throughout the day. The company has a market cap of $4,738 million and the number of outstanding shares has been calculated to be 117,996,000 shares. The 52-week high of Owens Corning Inc is $45.7 and the 52-week low is $28.38.
12.89% of the shares are held by company Insiders, 86.9% by institutions. Company shares has an average 3 month share volume of 1,812,750 and an average 10 day volume is recorded to be 1,201,650
Owens Corning produces composite and building materials systems, delivering a range of products and services from glass fibre 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.

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