Owens Corning (NYSE:OC) Stake Decreased by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in shares of Owens Corning (NYSE:OC) by 18.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 126,948 shares of the construction company’s stock after selling 29,590 shares during the quarter. Fisher Asset Management LLC owned about 0.14% of Owens Corning worth $18,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OC. Contravisory Investment Management Inc. bought a new stake in shares of Owens Corning in the 4th quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning in the 4th quarter valued at about $27,000. VisionPoint Advisory Group LLC boosted its position in shares of Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares in the last quarter. BluePath Capital Management LLC acquired a new position in shares of Owens Corning in the 3rd quarter worth approximately $36,000. Finally, Blue Trust Inc. raised its holdings in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 1.0 %

Owens Corning stock opened at $174.81 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a 1-year low of $103.41 and a 1-year high of $178.24. The firm’s fifty day simple moving average is $162.66 and its 200-day simple moving average is $148.02. The company has a market capitalization of $15.15 billion, a P/E ratio of 14.15, a P/E/G ratio of 5.24 and a beta of 1.45.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OC shares. Royal Bank of Canada raised their target price on shares of Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Argus boosted their target price on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. UBS Group increased their price target on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Loop Capital lifted their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.