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

Owens Corning Inc (NYSE:OC) declared a quarterly dividend on Thursday, February 5th. Investors of record on Monday, March 9th will be paid a dividend of 0.79 per share by the construction company on Thursday, April 9th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th.

Owens Corning has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 10 years. Owens Corning has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Owens Corning to earn $15.85 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 19.9%.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $134.17 on Friday. The stock’s 50-day simple moving average is $117.83 and its 200-day simple moving average is $128.92. Owens Corning has a 52 week low of $97.53 and a 52 week high of $184.52. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of -23.46, a PEG ratio of 2.78 and a beta of 1.36. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.03. The firm had revenue of $2.68 billion for 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%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.38 EPS. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Institutional Trading of Owens Corning

Hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its position in Owens Corning by 105.5% during the fourth quarter. Handelsbanken Fonder AB now owns 141,416 shares of the construction company’s stock valued at $15,826,000 after acquiring an additional 72,597 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Owens Corning by 5.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,236 shares of the construction company’s stock valued at $698,000 after purchasing an additional 296 shares in the last quarter. RiverFront Investment Group LLC bought a new stake in shares of Owens Corning in the fourth quarter worth $209,000. North Dakota State Investment Board bought a new position in shares of Owens Corning during the fourth quarter worth about $336,000. Finally, Qsemble Capital Management LP acquired a new stake in shares of Owens Corning during the 4th quarter valued at approximately $7,842,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.