Owens Corning (OC) declares a dividend of $0.52

Owens Corning said on February 2, 2023 that its board of directors had declared a regular quarterly dividend of $0.52 per share ($2.08 annualized). Shareholders of record as of March 2, 2023 will receive payment on April 6, 2023. Previously, the company paid $0.52 per share.

At the current share price of $101.00/share, the dividend yield of the stock is 2.06%. Looking back five years and taking a sample each week, the average dividend yield was 1.51%, the low 0.96% and the high 3.09%. The standard deviation of returns is 0.35 (n=237).

The current dividend yield is 1.58 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.14. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is 1.17%, demonstrating that it has increased its dividend over time.

Analyst price forecast suggests 2.27% upside

As of February 5, 2023, the one-year average price target for Owens Corning was $103.29. The predictions range from a low of $75.75 to a high of $162.75. The average price target represents a 2.27% increase from its last reported closing price of $101.00.

Forecast annual revenue for Owens Corning is $9,677 million, an increase of 0.73%. Projected annual EPS is $11.06, down 18.88%.

Fund Sentiment

There are 1091 funds or institutions reporting positions at Owens Corning. This is a decrease of 7 owner(s) or 0.64%.

Average portfolio weight of all funds US Dedicated: OC is 0.2335%, an increase of 2.3870%. The total number of shares held by institutions has increased over the past three months by 1.30% to 101,635,000 shares.

What do the big shareholders do?

Davis Selected Advisers owns 3,373,140 shares representing 3.61% ownership of the company. In its previous filing, the company said it held 3,395,504 shares, representing
a decrease
by 0.66%. The company

increase

its OC portfolio allocation of 16.47% in the last quarter.

Victory Capital Management holds 3,135,775 shares representing 3.36% ownership of the company. In its previous filing, the company said it held 2,986,184 shares, representing
a raise
of 4.77%. The company

decreases

its OC portfolio allocation of 14.13% in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 2,860,267 shares representing 3.06% ownership of the company. In its previous filing, the company said it held 2,857,533 shares, representing
a raise
by 0.10%. The company

increase

its OC portfolio allocation of 10.38% in the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 2,812,314 shares representing 3.01% ownership of the company. In its previous filing, the company said it held 2,791,409 shares, representing
a raise
by 0.74%. The company

increase

its OC portfolio allocation of 7.11% in the last quarter.

Alliancebernstein holds 2,788,885 shares representing 2.98% ownership of the company. In its previous filing, the company said it held 2,838,538 shares, representing
a decrease
1.78%. The company

decreases

its OC portfolio allocation of 6.71% in the last quarter.

General information about Owens Corning
(This description is provided by the company.)

Owens Corning is a global leader in building and industrial materials. The Company’s three integrated businesses are dedicated to manufacturing and advancing a wide range of composite insulation, roofing and fiberglass materials. Leveraging the talents of 19,000 employees in 33 countries, Owens Corning delivers innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, sustainable infrastructure and labor productivity. These solutions make a material difference to company customers and make the world a better place. Based in Toledo, Ohio, USA, the company had revenue of $7.1 billion in 2020. Founded in 1938, it has been a Fortune 500® company for 66 consecutive years.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.