Owens Corning (NYSE:OC) Declares Quarterly Dividend of $0.69

Owens Corning (NYSE:OC - Get Free Report) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Monday, March 10th will be given a dividend of 0.69 per share by the construction company on Thursday, April 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Monday, March 10th.

Owens Corning has raised its dividend by an average of 30.1% per year over the last three years. Owens Corning has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Owens Corning to earn $15.85 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 17.4%.

Owens Corning Stock Performance

OC traded down $1.05 on Monday, reaching $179.95. 667,631 shares of the stock were exchanged, compared to its average volume of 678,093. The company's 50-day moving average price is $181.58 and its 200 day moving average price is $178.80. The firm has a market capitalization of $15.44 billion, a PE ratio of 15.31, a PEG ratio of 2.01 and a beta of 1.46. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and an average price target of $201.75.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company's stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

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.