Fisher Asset Management LLC Has $25.03 Million Stock Holdings in Owens Corning (NYSE:OC)

Fisher Asset Management LLC increased its stake in shares of Owens Corning (NYSE:OC) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,803 shares of the construction company’s stock after purchasing an additional 7,553 shares during the quarter. Fisher Asset Management LLC owned approximately 0.17% of Owens Corning worth $25,031,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in Owens Corning during the 1st quarter worth approximately $416,000. Price T Rowe Associates Inc. MD grew its holdings in Owens Corning by 14.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after acquiring an additional 9,584 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Owens Corning by 371.5% during the 1st quarter. Janus Henderson Group PLC now owns 35,355 shares of the construction company’s stock worth $5,897,000 after acquiring an additional 27,856 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Owens Corning during the 1st quarter worth approximately $305,000. Finally, Tidal Investments LLC grew its holdings in Owens Corning by 76.1% during the 1st quarter. Tidal Investments LLC now owns 12,044 shares of the construction company’s stock worth $2,009,000 after acquiring an additional 5,205 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Stock Down 1.4 %

Shares of NYSE OC opened at $205.10 on Thursday. The firm has a market cap of $17.59 billion, a PE ratio of 17.46, a P/E/G ratio of 2.36 and a beta of 1.41. Owens Corning has a 12-month low of $131.67 and a 12-month high of $214.53. The company’s fifty day simple moving average is $184.37 and its 200 day simple moving average is $175.86. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the firm earned $4.15 earnings per share. Owens Corning’s revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.17%. Owens Corning’s payout ratio is 20.43%.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.