Fisher Asset Management LLC Acquires 59,069 Shares of Owens Corning (NYSE:OC)

Fisher Asset Management LLC increased its holdings in shares of Owens Corning (NYSE:OC) by 41.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 200,872 shares of the construction company’s stock after buying an additional 59,069 shares during the quarter. Fisher Asset Management LLC’s holdings in Owens Corning were worth $34,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OC. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB increased its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in Owens Corning during the 4th quarter worth $34,000. 88.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Trading Up 1.2 %

Shares of NYSE:OC opened at $153.96 on Monday. Owens Corning has a 12-month low of $148.78 and a 12-month high of $214.53. The business’s fifty day simple moving average is $175.41 and its 200-day simple moving average is $178.92. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $13.17 billion, a PE ratio of 13.10, a P/E/G ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $3.21 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.79%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Barclays reduced their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reduced their price objective on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.00.

Owens Corning Company 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.