Owens Corning (NYSE:OC) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Thursday, January 3rd will be paid a dividend of 0.22 per share by the construction company on Friday, January 18th. This represents a $0.88 annualized dividend and a yield of 1.78%. This is an increase from Owens Corning’s previous quarterly dividend of $0.21.

Owens Corning has raised its dividend payment by an average of 18.6% annually over the last three years and has increased its dividend every year for the last 3 years. Owens Corning has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Owens Corning to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 15.2%.

Owens Corning stock traded up $0.43 during mid-day trading on Thursday, hitting $49.55. The company’s stock had a trading volume of 1,190,105 shares, compared to its average volume of 1,586,162. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.77 and a beta of 1.13. Owens Corning has a 1 year low of $42.88 and a 1 year high of $96.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.87 and a current ratio of 1.62.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 24th. The construction company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.11). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Owens Corning had a return on equity of 12.37% and a net margin of 5.33%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. Analysts forecast that Owens Corning will post 4.74 EPS for the current year.

OC has been the subject of several analyst reports. Longbow Research reiterated a “buy” rating on shares of Owens Corning in a research report on Monday, September 24th. Seaport Global Securities lowered Owens Corning from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 24th. Goldman Sachs Group initiated coverage on Owens Corning in a research report on Tuesday, October 2nd. They issued a “buy” rating and a $75.00 price objective for the company. SunTrust Banks lowered their price objective on Owens Corning to $45.00 and set a “positive” rating for the company in a research report on Thursday, October 25th. Finally, Northcoast Research increased their price objective on Owens Corning to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Owens Corning has a consensus rating of “Hold” and a consensus target price of $73.87.

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About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Dividend History for Owens Corning (NYSE:OC)

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