Fuller & Thaler Asset Management Inc. Increases Stake in Owens Corning Inc $OC

Key Points

• Fuller & Thaler Asset Management Inc. has increased its stake in Owens Corning Inc by 108.5%, bringing its total holdings to 32,249 shares valued at approximately $4.61 million.
• Analysts have provided mixed ratings for Owens Corning, with the average price target now at $184.60, indicating a consensus rating of "Moderate Buy".
• The company reported better-than-expected quarterly earnings with an EPS of $4.21, surpassing analysts' estimates by $0.41, and announced a quarterly dividend yielding 1.9%.

Fuller & Thaler Asset Management Inc. lifted its stake in Owens Corning Inc (NYSE:OC - Free Report) by 108.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,249 shares of the construction company's stock after purchasing an additional 16,782 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Owens Corning were worth $4,606,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CoreCap Advisors LLC raised its position in shares of Owens Corning by 3.3% in the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock valued at $305,000 after purchasing an additional 57 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Owens Corning by 0.6% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company's stock valued at $1,863,000 after purchasing an additional 74 shares during the last quarter. Menard Financial Group LLC raised its position in shares of Owens Corning by 3.6% in the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company's stock valued at $387,000 after purchasing an additional 80 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Owens Corning by 13.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock valued at $125,000 after purchasing an additional 85 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Owens Corning by 9.8% in the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the construction company's stock valued at $143,000 after purchasing an additional 89 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Owens Corning from $165.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Loop Capital cut their price target on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. UBS Group cut their price target on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada cut their price target on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Finally, Barclays increased their price target on shares of Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and an average price target of $184.60.

Owens Corning Price Performance

Shares of NYSE OC opened at $148.6690 on Thursday. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 10.89 and a beta of 1.32. Owens Corning Inc has a 12 month low of $123.40 and a 12 month high of $214.53. The firm's 50 day simple moving average is $142.35 and its 200-day simple moving average is $145.44. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business's revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $4.64 EPS. Analysts expect that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning announced that its board has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Monday, July 21st were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a yield of 1.9%. Owens Corning's dividend payout ratio (DPR) is currently 71.69%.

About Owens Corning

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.

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