Owens Corning (NYSE:OC – Get Free Report) announced its quarterly earnings results on Wednesday. The construction company reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55, Briefing.com reports. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business earned $2.77 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis.
Owens Corning Stock Down 0.7 %
NYSE OC traded down $1.22 on Thursday, hitting $164.00. 208,096 shares of the stock were exchanged, compared to its average volume of 667,902. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. Owens Corning has a fifty-two week low of $98.02 and a fifty-two week high of $173.65. The company has a market cap of $14.27 billion, a PE ratio of 12.51, a PEG ratio of 7.08 and a beta of 1.47. The company has a 50-day moving average price of $158.41 and a 200-day moving average price of $145.80.
Owens Corning Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is presently 18.29%.
Analysts Set New Price Targets
Get Our Latest Stock Report on OC
Insiders Place Their Bets
In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock worth $3,325,799 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.
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.
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