Fisher Asset Management LLC Sells 29,590 Shares of Owens Corning (NYSE:OC)

Fisher Asset Management LLC cut its stake in shares of Owens Corning (NYSE:OC) by 18.9% during the 4th quarter, Holdings Channel reports. The fund owned 126,948 shares of the construction company’s stock after selling 29,590 shares during the period. Fisher Asset Management LLC’s holdings in Owens Corning were worth $18,818,000 as of its most recent SEC filing.

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

Owens Corning Price Performance

OC stock opened at $174.81 on Monday. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 5.24 and a beta of 1.45. The firm’s 50-day moving average price is $162.66 and its two-hundred day moving average price is $148.02. 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 12-month low of $103.41 and a 12-month high of $178.24.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company posted $2.77 EPS. Owens Corning’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning will post 15.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OC shares. Argus lifted their target price on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Citigroup lifted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. UBS Group raised their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI upped their target price on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $168.21.

Insider Activity at Owens Corning

In other news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 sale, the insider now owns 36,140 shares in the company, 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 stock in a transaction dated 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 transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.