Owens Corning (OC) To Go Ex-Dividend on October 18th

Owens Corning (NYSE:OC) declared a quarterly dividend on Thursday, September 19th, NASDAQ reports. Investors of record on Friday, October 18th will be paid a dividend of 0.60 per share by the construction company on Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, October 18th.

Owens Corning has increased its dividend by an average of 29.4% annually over the last three years. Owens Corning has a payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Owens Corning to earn $16.04 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 15.0%.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $174.28 on Friday. The firm has a market cap of $15.10 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company’s fifty day simple moving average is $167.63 and its two-hundred day simple moving average is $169.39. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.22 EPS. As a group, equities analysts expect that Owens Corning will post 15.38 EPS for the current year.

Insider Buying and Selling at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Finally, Loop Capital boosted their target price on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

About Owens Corning

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.