Owens Corning Inc Plans Quarterly Dividend of $0.79 (NYSE:OC)

Owens Corning Inc (NYSE:OC) declared a quarterly dividend on Thursday, June 18th. Stockholders of record on Monday, July 20th will be paid a dividend of 0.79 per share by the construction company on Thursday, August 6th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, July 20th.

Owens Corning has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 10 years. Owens Corning has a payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Owens Corning to earn $11.77 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 26.8%.

Owens Corning Price Performance

OC opened at $128.12 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. The stock has a market capitalization of $10.32 billion, a P/E ratio of -19.38, a price-to-earnings-growth ratio of 2.25 and a beta of 1.34. The company’s 50 day simple moving average is $120.37 and its 200-day simple moving average is $118.37. Owens Corning has a one year low of $97.53 and a one year high of $159.42.

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

Insiders Place Their Bets

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Owens Corning by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock valued at $1,092,883,000 after purchasing an additional 84,096 shares during the period. State Street Corp raised its holdings in Owens Corning by 2.3% in the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock worth $514,205,000 after purchasing an additional 81,133 shares during the period. Dimensional Fund Advisors LP raised its holdings in Owens Corning by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after purchasing an additional 188,211 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Owens Corning by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock worth $290,321,000 after purchasing an additional 231,871 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Owens Corning by 22.7% in the 1st quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company’s stock valued at $235,835,000 after buying an additional 403,803 shares during the period. 88.40% of the stock is owned by institutional investors.

About Owens Corning

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.