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

Owens Corning Inc (NYSE:OC) announced a quarterly dividend on Thursday, June 18th. Shareholders 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) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, July 20th.

Owens Corning has raised its dividend 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 payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 3.5%

Shares of OC stock opened at $128.12 on Friday. Owens Corning has a 52-week low of $97.53 and a 52-week high of $159.42. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of -19.38, a P/E/G ratio of 2.25 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The firm has a fifty day moving average of $120.37 and a 200-day moving average of $118.37.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating 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 business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business earned $2.97 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that Owens Corning will post 9.53 earnings per share for the current fiscal year.

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.