Owens Corning Inc (NYSE:OC) Announces Dividend Increase – $0.79 Per Share

Owens Corning Inc (NYSE:OC) declared a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, January 5th will be paid a dividend of 0.79 per share by the construction company on Wednesday, January 21st. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, January 5th. This is a 14.5% increase from Owens Corning’s previous quarterly dividend of $0.69.

Owens Corning has increased its dividend payment 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 dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Down 1.9%

OC stock opened at $112.01 on Friday. Owens Corning has a 1-year low of $97.53 and a 1-year high of $203.68. The business’s 50 day simple moving average is $119.93 and its 200 day simple moving average is $135.20. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $9.21 billion, a PE ratio of -19.58, a PEG ratio of 9.19 and a beta of 1.34.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. Owens Corning’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.38 EPS. As a group, research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Hedge Funds Weigh In On Owens Corning

Hedge funds have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Owens Corning in the 2nd quarter valued at about $26,000. Bangor Savings Bank bought a new stake in Owens Corning in the second quarter worth approximately $28,000. Rexford Capital Inc. acquired a new position in Owens Corning in the second quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning during the 2nd quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Owens Corning by 149.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. Institutional investors own 88.40% 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.