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

Key Points

• Owens Corning declared a quarterly dividend of $0.79 per share, payable November 5 to shareholders of record on October 19. The dividend implies an annualized yield of approximately 2.5%.
• The company has raised its dividend for 10 consecutive years, with a current payout ratio of 21.4%; analysts expect the dividend to remain well covered by projected earnings.
• In its latest quarter, Owens Corning reported EPS of $3.93, beating estimates of $3.09, while revenue reached $2.76 billion versus expectations of $2.66 billion.

Owens Corning Inc (NYSE:OC - Get Free Report) declared a quarterly dividend on Thursday, September 17th. Investors 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 c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, October 19th.

Owens Corning has increased its dividend by an average of 0.2%annually 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% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Owens Corning to earn $12.13 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 26.1%.

Owens Corning Price Performance

OC stock opened at $124.68 on Friday. The firm has a 50 day simple moving average of $142.29 and a two-hundred day simple moving average of $127.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The stock has a market cap of $9.86 billion, a PE ratio of -15.47, a P/E/G ratio of 1.90 and a beta of 1.32. Owens Corning has a one year low of $97.53 and a one year high of $159.91.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results 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. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business earned $4.21 earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. On average, analysts predict that Owens Corning will post 9.94 EPS for the current fiscal year.

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 materials and glass-fiber composites designed to improve energy efficiency, durability and structural performance.

The company's insulation products include fiberglass, mineral wool and foam insulation, as well as related air-sealing and weatherization products. Its roofing business provides asphalt shingles, roofing components and other solutions for residential and commercial applications.

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