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Owens Corning - OC STOCK NEWS

Welcome to our dedicated news page for Owens Corning (Ticker: OC), a resource for investors and traders seeking the latest updates and insights on Owens Corning.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Owens Corning's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Owens Corning's position in the market.

Rhea-AI Summary
Masonite International Corporation (NYSE: DOOR) reported full year 2023 net sales of $2.8 billion and net income of $118 million. They achieved full year adjusted EBITDA of $419 million and a record high $408 million operating cash flow. Masonite enhanced its product portfolio through acquisitions of Endura Products and Fleetwood during 2023. Subsequently, they announced a definitive agreement with Owens Corning (NYSE: OC) for acquisition at $133.00 per share in cash.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.05%
Tags
earnings
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Rhea-AI Summary
Masonite International Corporation (NYSE: DOOR) reported full year 2023 net sales of $2.8 billion and net income of $118 million. They achieved full year adjusted EBITDA of $419 million and a record high $408 million operating cash flow. Masonite enhanced its product portfolio through acquisitions of Endura Products and Fleetwood during 2023. Subsequently, they announced a definitive agreement with Owens Corning (NYSE: OC) for acquisition at $133.00 per share in cash.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.15%
Tags
earnings
-
Rhea-AI Summary
Owens Corning (OC) reported fourth-quarter and full-year 2023 results with net sales of $9.7 billion, adjusted EBIT margins of 19%, and adjusted EBITDA margins of 24%. The company delivered diluted EPS of $13.14 and adjusted diluted EPS of $14.42. Owens Corning announced strategic moves to acquire Masonite International Corporation and review strategic alternatives for its global glass reinforcements business. The company returned $812 million to shareholders in 2023 through dividends and share repurchases.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.73%
Tags
earnings
Rhea-AI Summary
Owens Corning (OC) acquires Masonite International Corporation for $3.9 billion, expanding its residential product offerings and creating a new growth platform. The deal is expected to enhance Owens Corning's financial profile, generate synergies, and drive shareholder value. Masonite's market-leading doors business complements Owens Corning's existing portfolio, positioning the company for long-term growth and innovation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
35.09%
Tags
acquisition
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Rhea-AI Summary
Owens Corning (OC) acquires Masonite International Corporation for $3.9 billion, expanding its residential product offerings and creating a new growth platform. The deal is expected to enhance Owens Corning's financial profile, generate synergies, and drive shareholder value. Masonite's market-leading doors business complements Owens Corning's existing portfolio, positioning the company for long-term growth and innovation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.07%
Tags
acquisition
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Rhea-AI Summary
Owens Corning (OC) announces a strategic review of its global glass reinforcements business, aiming to focus on building and construction materials. The GR business generates $1.3 billion in annual revenues across 11 countries and 18 manufacturing facilities, supplying glass fiber products for various markets. The company aims to explore options such as sale, spinoff, or other strategic alternatives with the assistance of Morgan Stanley. No specific timeline has been set for the review.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.07%
Tags
none
Rhea-AI Summary
Owens Corning (OC) declares a quarterly cash dividend of $0.60 per common share, payable on April 4, 2024. Future dividends will be based on earnings, financial condition, and other factors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.17%
Tags
dividends
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Rhea-AI Summary
Owens Corning (OC) is set to release its Q4 and full-year 2023 financial results on February 14, 2024, followed by a financial results discussion call. The webcast replay will be available for a year, and a telephone replay will be accessible for one week after the call. The call-in details for both live and replay sessions are provided in the press release.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.22%
Tags
earnings
-
News
Rhea-AI Summary
The global population is predicted to reach 9.7 billion by 2050, posing a challenge to food production. The solution lies in controlled environment agriculture (CEA) and hydroponics, which offer unique opportunities around local food, safe food, and supply chain resilience. Owens Corning's Vidawool, a mineral wool growing medium, is a water management solution in hydroponics that uses recycled slag. While indoor farming faces energy and waste disposal challenges, it is projected to be worth more than $32 billion by 2028.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.84%
Tags
none
Rhea-AI Summary
LM Wind Power (LMWP) successfully completes full scale validation testing of second recyclable thermoplastic blade, a major milestone for the ZEBRA project and the wind industry's commitment to circular economy
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.32%
Tags
none
Owens Corning

NYSE:OC

OC Rankings

OC Stock Data

12.96B
86.20M
0.66%
97.25%
2.39%
Asphalt Shingle and Coating Materials Manufacturing
Manufacturing
Link
US
Toledo

About OC

owens corning (nyse: oc) develops, manufactures and markets insulation, roofing and fiberglass composites. global in scope and human in scale, the company’s market-leading businesses use their deep expertise in materials, manufacturing and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings. through its glass reinforcements business, the company makes thousands of products lighter, stronger and more durable. ultimately, owens corning people and products make the world a better place. based in toledo, ohio, owens corning posted 2014 sales of $5.3 billion and employs about 15,000 people in 26 countries. it has been a fortune 500® company for 61 consecutive years. for more information, please visit www.owenscorning.com. a global company where market-leading businesses are built. at owens corning, we strive every day to make the world a better place. today, owens corning operates in three segments: insulation, roo