Fisher Asset Management LLC Has $355,000 Stake in Owens Corning Inc $OC

Fisher Asset Management LLC reduced its position in shares of Owens Corning Inc (NYSE:OC) by 99.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,176 shares of the construction company’s stock after selling 324,407 shares during the period. Fisher Asset Management LLC’s holdings in Owens Corning were worth $355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clean Energy Transition LLP bought a new stake in Owens Corning during the third quarter worth about $75,203,000. JPMorgan Chase & Co. lifted its position in shares of Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after buying an additional 454,382 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Owens Corning by 65.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,136,787 shares of the construction company’s stock worth $160,810,000 after purchasing an additional 451,547 shares during the period. AQR Capital Management LLC increased its stake in shares of Owens Corning by 70.9% during the second quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock worth $132,102,000 after purchasing an additional 398,440 shares during the period. Finally, Davis Selected Advisers increased its stake in shares of Owens Corning by 15.1% during the fourth quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after purchasing an additional 269,216 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president owned 3,093 shares in the company, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group raised their price objective on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada lifted their price target on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Bank of America cut their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Truist Financial upped their price target on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.82.

Owens Corning Stock Up 0.2%

OC stock opened at $126.07 on Monday. The stock’s 50 day simple moving average is $115.82 and its 200 day simple moving average is $116.64. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a market cap of $10.15 billion, a P/E ratio of -19.07, a price-to-earnings-growth ratio of 2.28 and a beta of 1.34.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.97 EPS. On average, research analysts expect that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.