Owens Corning (NYSE:OC) announced a quarterly dividend on Friday, September 16th. Shareholders of record on Monday, October 17th will be paid a dividend of 0.18 per share on Wednesday, November 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, October 13th.
Shares of Owens Corning (NYSE:OC) opened at 52.73 on Wednesday. The firm has a 50-day moving average price of $53.44 and a 200-day moving average price of $51.72. Owens Corning has a 12 month low of $38.96 and a 12 month high of $58.69. The company has a market capitalization of $6.05 billion, a PE ratio of 14.89 and a beta of 1.41.
Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.43. Owens Corning had a return on equity of 10.57% and a net margin of 7.52%. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts predict that Owens Corning will post $3.45 EPS for the current year.
OC has been the subject of several research reports. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, September 28th. Wedbush lifted their price target on Owens Corning from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, July 6th. RBC Capital Markets reissued an “outperform” rating and set a $62.00 price target (up from $57.00) on shares of Owens Corning in a report on Thursday, July 28th. Royal Bank Of Canada lifted their price target on Owens Corning from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Finally, Wells Fargo & Co. initiated coverage on Owens Corning in a report on Thursday, September 29th. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Owens Corning currently has a consensus rating of “Hold” and a consensus target price of $54.75.
In other news, Director W Howard Morris sold 4,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the director now directly owns 38,769 shares of the company’s stock, valued at approximately $2,064,449.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arnaud Genis sold 66,619 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $54.68, for a total value of $3,642,726.92. Following the completion of the transaction, the insider now directly owns 101,538 shares in the company, valued at $5,552,097.84. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Owens Corning by 52.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,524,491 shares of the company’s stock worth $284,622,000 after buying an additional 1,889,672 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Owens Corning by 6.9% in the second quarter. TIAA CREF Investment Management LLC now owns 3,630,526 shares of the company’s stock worth $187,045,000 after buying an additional 233,299 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Owens Corning by 0.9% in the second quarter. BlackRock Fund Advisors now owns 1,546,022 shares of the company’s stock worth $79,651,000 after buying an additional 13,408 shares in the last quarter. Allianz Asset Management AG increased its position in shares of Owens Corning by 74.5% in the second quarter. Allianz Asset Management AG now owns 624,236 shares of the company’s stock worth $32,161,000 after buying an additional 266,500 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Owens Corning by 10.5% in the second quarter. Hsbc Holdings PLC now owns 486,185 shares of the company’s stock worth $25,049,000 after buying an additional 46,230 shares in the last quarter.
About Owens Corning
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.