#5 - Owens Corning (NYSE:OC)
Like many of the stocks on this list, Owens Corning (NYSE: OC) is projecting a decline in earnings from what will be a record year in 2022. But the company is part of a sector that stands out in 2023.
Owens Corning manufactures building materials such as insulation that is used in construction. This sector is only now starting to see the benefits of the Infrastructure Act that the U.S. Congress passed in 2022. This may allow the company to climb over those estimates. OC stock is already trading at an attractive P/E ratio of just over 6x earnings.
The company has an attractive dividend yield of 2.37% and has increased its dividend in the last eight years. Plus, the dividend has been growing at an annual rate of approximately 7% not only is that slightly ahead of the current inflation trend, but it’s below the company’s earnings growth rate which should give investors a lot of confidence in the security of the dividend.
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.
Read More - Current Price
- $200.90
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $192.62 (4.1% Downside)
