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

Owens Corning Inc (NYSE:OC) declared a quarterly dividend on Thursday, June 18th. Shareholders of record on Monday, July 20th will be given a dividend of 0.79 per share by the construction company on Thursday, August 6th. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, July 20th.

Owens Corning has increased 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% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Owens Corning stock opened at $128.12 on Friday. The stock has a market capitalization of $10.32 billion, a P/E ratio of -19.38, a P/E/G ratio of 2.25 and a beta of 1.34. The company’s fifty day moving average price is $120.37 and its 200 day moving average price is $118.37. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.97 earnings per share. As a group, equities research analysts anticipate 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.