Insiders Were Right: OC Makes New 52-Week High

In trading on Wednesday, shares of Owens Corning (OC) touched a new 52-week high of $45.62/share. That's a 32.58% rise, or $11.21 per share from the 52-week low of $34.41 set back on 11/08/2013. That means at today's intraday high, any investor who purchased OC stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, OC has seen 2 different instances of insiders buying over the trailing six month period.

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Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
10/28/2013 Edward F. Lonergan Director 2,000 $37.75 $75,500.00
11/11/2013 Michael C. McMurray Sr. VP and CFO 3,000 $35.79 $107,370.00

The chart below shows where OC has traded over the past year, with the 50-day and 200-day moving averages included.

Owens Corning Moving Averages Chart

In afternoon trading on Wednesday, OC shares are changing hands at $43.71/share, slightly below the new 52-week high.

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