Owens Corning Inc (OC) to Issue Quarterly Dividend of $0.79 on November 5th

Owens Corning Inc (NYSE:OC) declared a quarterly dividend on Thursday, September 17th. Stockholders of record on Monday, October 19th will be given a dividend of $0.79 per share by the construction company on Thursday, November 5th. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, October 19th.

Owens Corning has raised its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Owens Corning has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Owens Corning to earn $10.72 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 29.5%.

Owens Corning Trading Down 0.8%

OC traded down $0.90 during trading on Friday, hitting $112.79. The company’s stock had a trading volume of 1,379,183 shares, compared to its average volume of 1,168,528. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.91. The stock has a market cap of $8.92 billion, a PE ratio of -13.99, a PEG ratio of 2.63 and a beta of 1.32. The firm’s 50 day moving average price is $131.60 and its 200-day moving average price is $129.17. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.84. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $4.21 earnings per share. On average, analysts expect that Owens Corning will post 9.59 earnings per share for the current year.

Analysts Set New Price Targets

OC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group cut their price target on shares of Owens Corning from $169.00 to $128.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Vertical Research downgraded Owens Corning from a “hold” rating to a “sell” rating and set a $106.00 price objective for the company. in a report on Wednesday, October 7th. Finally, Zacks Research lowered Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Hold” and a consensus price target of $141.57.

Owens Corning Company Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.