Owens Corning (NYSE:OC) to Issue Quarterly Dividend of $0.69

Owens Corning (NYSE:OC) announced a quarterly dividend on Thursday, February 6th, RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.69 per share by the construction company on Thursday, April 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, March 10th.

Owens Corning has increased its dividend payment by an average of 30.1% per year over the last three years. Owens Corning has a payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Owens Corning to earn $15.85 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 17.4%.

Owens Corning Trading Down 0.7 %

Shares of Owens Corning stock opened at $144.54 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The business has a fifty day simple moving average of $173.44 and a 200-day simple moving average of $178.28. Owens Corning has a fifty-two week low of $140.94 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 earnings per share. On average, equities analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OC. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group dropped their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada dropped their price target on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

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.