Last $31.96 USD
Change Today +0.30 / 0.95%
Volume 899.1K
OC On Other Exchanges
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

owens corning (OC) Snapshot

Open
$31.68
Previous Close
$31.66
Day High
$32.03
Day Low
$31.31
52 Week High
03/4/14 - $46.64
52 Week Low
10/15/14 - $28.38
Market Cap
3.8B
Average Volume 10 Days
2.1M
EPS TTM
$2.26
Shares Outstanding
117.6M
EX-Date
10/16/14
P/E TM
14.2x
Dividend
$0.64
Dividend Yield
1.50%
Current Stock Chart for OWENS CORNING (OC)

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owens corning (OC) Details

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composite systems; and residential and commercial building materials worldwide. It operates in two segments, Composites and Building Materials. 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, mat, veil, and other specialized products. Its products are used in pipe, roofing shingles, sporting goods, computers, telecommunications cables, boats, aircraft, defense, automotive, industrial containers, and wind-energy applications in the power and energy, housing, water distribution, industrial, transportation, consumer, and aerospace/military markets. The Building Materials segment manufactures and sells fiberglass insulation into residential, commercial, industrial, and other markets for thermal and acoustical applications; and manufactures and sells glass fiber pipe insulation, flexible duct media, and foam insulation used in above- and below-grade construction applications. It also manufactures and sells residential roofing shingles and oxidized asphalt materials used in residential and commercial construction, and specialty applications. This segment sells its insulation products, and shingles and roofing accessories to insulation installers, home centers, lumberyards, retailers, and distributors; and asphalt to roofing contractors and distributors for built-up roofing asphalt systems, as well as to manufacturers in other industries, including automotive, chemical, rubber, and construction industries. The company was founded in 1938 and is headquartered in Toledo, Ohio.

15,000 Employees
Last Reported Date: 02/12/14
Founded in 1938

owens corning (OC) Top Compensated Officers

Chairman of the Board, Chief Executive Office...
Total Annual Compensation: $1.1M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $475.0K
Group President of Building Materials
Total Annual Compensation: $596.7K
Group President of Composites
Total Annual Compensation: $541.7K
Senior Vice President of Information Technolo...
Total Annual Compensation: $458.3K
Compensation as of Fiscal Year 2013.

owens corning (OC) Key Developments

Owens Corning Declares Quarterly Dividend, Payable on Nov. 4, 2014; Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended Sept. 30, 2014; Revised Earnings Guidance for the Full Year of 2014

Owens Corning declared a quarterly cash dividend of $0.16 per common share. The dividend will be payable on Nov. 4, 2014 to shareholders of record as of Oct. 20, 2014. The company announced unaudited consolidated earnings results for third quarter and nine months ended Sept. 30, 2014. For the quarter, the company reported net sales of $1,382 million, earnings before interest and taxes of $107 million, earnings before taxes of $79 million, net earnings attributable to company of $52 million or $0.44 per diluted share adjusted EBIT of $132 million, adjusted earnings of $74 million or $0.63 per diluted share compared to the net sales of $1,320 million, earnings before interest and taxes of $106 million, earnings before taxes of $77 million, net earnings attributable to company of $51 million or $0.43 per diluted share adjusted EBIT of $119 million, adjusted earnings of $66 million or $0.56 per diluted share for the same quarter a year ago. For the year to date, the company reported net sales of $4,015 million, earnings before interest and taxes of $288 million, earnings before taxes of $202 million, net earnings attributable to company of $193 million or $1.63 per diluted share adjusted EBIT of $305 million, adjusted earnings of $154 million or $1.30 per diluted share net cash flow provided by operating activities of $62 million, additions to plant and equipment of $216 million compared to the net sales of $4,017 million, earnings before interest and taxes of $281 million, earnings before taxes of $194 million, net earnings attributable to company of $122 million or $1.02 per diluted share adjusted EBIT of $320 million, adjusted earnings of $169 million or $1.42 per diluted share net cash flow provided by operating activities of $158 million, additions to plant and equipment of $199 million for the same period a year ago. The company previously disclosed that the Insulation business would return 50% operating leverage through the recovery and produce $100 million or more of EBIT in an environment of one million U.S. housing starts. For the year, the business is expected to generate a full-year result consistent with this guidance. The Composites business continues to benefit from stable global economic growth, improved operating performance and pricing. The company now expects 2014 EBIT improvement of about $40 million, largely driven by higher pricing. In Roofing, the company now anticipates that the second-half and full-year roofing market will be down from prior year. Operating margins in 2014 are expected to be below the company's guidance of average operating margins of mid-teens or higher. Capital expenditures in 2014 are expected to total approximately $370 million. The company expects an adjusted effective tax rate of 28% to 30% for 2014. The company had previously guided that it expected full-year adjusted EBIT to grow versus 2013. Continued weakness of roofing market shipments in the second half creates $15 million of downside risk versus last year's adjusted EBIT performance of $416 million.

Owens Corning Will Cut 70% of Workforce in the Move to Mexico

The Owens Corning fibreglass plant in Guelph is moving a significant portion of its production to Tlaxcala, Mexico, cutting 70% of its workforce. The Guelph plant will be pared down from 169 employees to a staff of around 50 when the transition takes place in 2016. Meehan said she wasn't sure exactly when the bulk of this transition will take place. The plant on York Road produces two main fibreglass products: chopped strand mat and continuous filament mat. These are products used in other manufacturing processes and can be found in a variety of things, from cars and boats to consumer goods. The chopped strand production will be moving to an upgraded line in a previously owned plant in Mexico. When 2016 rolls around, the Guelph plant will be reshaped to focus on the manufacturing of continuous filament. This will become the main product produced at the plant.

Owens Corning Builds a New Advanced Technology Facility in Gastonia, North Carolina

Owens Corning is building a new advanced technology facility in Gastonia, North Carolina, that will help meet demand for bio-based products. The new equipment will add manufacturing flexibility to produce different widths of the company's new Sustaina(R) non-woven glass fiber fabric. This will enable more customers to use the product in their applications. The new plant will be able to run four-meter widths of Sustaina(R) fabric, rather than the narrower width currently produced on existing assets.

 

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