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Owens Corning - OC STOCK NEWS

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

Owens Corning (NYSE: OC) is a global leader in the development, manufacturing, and marketing of insulation, roofing, and fiberglass composites. Headquartered in Toledo, Ohio, the company has been a staple in the Fortune 500® list for 61 consecutive years and employs approximately 15,000 people across 26 countries.

Owens Corning operates in three main segments: Composites, Insulation, and Roofing. The Composites segment produces glass fiber used in thousands of products, enhancing their strength, durability, and weight reduction. The Insulation segment focuses on energy-saving solutions for both commercial and residential buildings, improving overall comfort and efficiency. The Roofing segment, the largest revenue generator, includes laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt.

Recent achievements include continued innovation in sustainable building materials and systems that not only save energy but also enhance the comfort of living spaces. Owens Corning maintains a robust financial position, evidenced by its 2014 sales of $5.3 billion. The company is also known for its commitment to sustainability and inclusion, making significant contributions to environmental and social governance (ESG) initiatives.

Through partnerships and collaborations, Owens Corning remains at the forefront of building science, continuously developing products that make structures lighter, stronger, and more durable. The company's ongoing projects focus on expanding its market presence and improving product offerings to meet evolving consumer and industry demands.

For more information, visit www.owenscorning.com.

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In a recent press release dated May 16, 2024, Owens Corning highlighted its commitment to sustainability through an Employee Q&A with Senior Scientist Ozma Lane. The focus was on the company's efforts to meet its 2030 sustainability goals, particularly in the realm of asphalt production. Lane emphasized the importance of collaboration within the company, which aids in quicker innovation and application of new ideas. She also noted her personal journey and satisfaction in working towards reducing greenhouse gas emissions, reflecting Owens Corning's cooperative culture and dedication to environmental responsibility.

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Owens Corning has completed the acquisition of Masonite International for $3.9 billion, or $133.00 per share. This acquisition is expected to bolster Owens Corning's position in the building and construction materials sector by adding a line of interior and exterior doors and door systems. The integration promises to leverage Owens Corning's operational and innovation capabilities, generating approximately $125 million in cost synergies. The company's annual revenue is projected to rise to $12.5 billion with an adjusted EBITDA of $2.9 billion. Chris Ball has been appointed President of the newly formed Doors business. Masonite's shares will be delisted from the NYSE.

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Owens Corning (NYSE: OC) and Masonite International announced the successful early participation results for their exchange offer and consent solicitation concerning Masonite’s 3.50% Senior Notes due 2030. As of May 14, 2024, 99.51% of these notes had been tendered.

The terms were amended to increase the consideration for holders tendering after the early deadline. The amended terms include a $2.50 cash payment and $1,000 in new OC notes for each $1,000 principal amount of existing notes tendered. Eligible holders who tender after the early deadline will receive $970 in new OC notes plus an early tender premium but no consent payment.

The amendments to the indenture governing the notes will be effective once the exchange and acquisition are complete. All terms and conditions remain subject to the consummation of Owens Corning's acquisition of Masonite.

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Owens Corning (NYSE: OC) and Masonite International (NYSE: DOOR) have announced the extension of the expiration time and early participation deadline for their Tender Offer and Consent Solicitation. The new deadlines are now 5:00 p.m., New York City time, on May 14, 2024. All other terms remain unchanged. This extension follows the receipt of requisite consents to amend the indenture governing Masonite's notes, eliminating certain covenants and provisions. The Tender Offer and Consent Solicitation are part of Owens Corning's acquisition of Masonite, with both companies retaining the right to amend terms. As of May 13, 2024, $471.27 million of Masonite Notes have been tendered, representing 94.25% of the total principal amount. The amendments will become effective upon the consummation of the acquisition and satisfaction of other conditions.

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The press release discusses the importance of inclusivity and authenticity at Owens Corning, highlighting Brenda Karras' contributions to building an inclusive workforce. Brenda's involvement in affinity groups like HOLA has helped foster connections, promote diversity, and support talent attraction and retention. The PR emphasizes the benefits of an inclusive workplace and showcases Owens Corning's commitment to social sustainability through inclusion and diversity.

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Owens Corning and Masonite International have announced an exchange offer and consent solicitation related to Owens Corning's planned acquisition of Masonite. The exchange offer involves exchanging 3.50% Senior Notes due 2030 issued by Masonite for new notes to be issued by Owens Corning, along with soliciting consents for proposed amendments to the indenture governing the existing notes. The offer includes various payments and considerations, subject to specific conditions and deadlines.

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Owens Corning (OC) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the planned acquisition of Masonite International (DOOR). The waiting period ended on April 26, 2024, satisfying a closing condition for the transaction. Masonite shareholders have already approved the acquisition, with the closing expected in May 2024, pending customary conditions.

Owens Corning, a global leader in building and construction materials, focuses on sustainable material innovation through its Roofing, Insulation, and Composites businesses. With a strong presence in 30 countries and sales of $9.7 billion in 2023, the company aims to provide energy-efficient solutions and create value for customers and shareholders.

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Owens Corning (NYSE: OC) and Masonite International (“Masonite”) (NYSE: DOOR) have extended the early participation deadline for the Tender Offer and Consent Solicitation to May 13, 2024. They announced successful results with 88.27% of Masonite Notes tendered and consents delivered by the early deadline. Holders who participated will receive the Total Consideration, including the Early Participation Payment, subject to the Arrangement’s consummation. The Proposed Amendments to the Masonite Indenture have been adopted, contingent on the completion of the Arrangement.

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Owens Corning highlights the contributions of Paul Ferrara, Senior Safety Lead, in their 2023 Sustainability Report. The report showcases Ferrara's impact on safety initiatives within the company.
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Owens Corning (NYSE: OC) reported first-quarter 2024 results with net sales of $2.3 billion, net earnings of $299 million, and adjusted EBIT of $438 million. The company delivered diluted EPS of $3.40 and adjusted diluted EPS of $3.59. Owens Corning returned $182 million to shareholders through dividends and share repurchases. The company's enterprise performance showcased strong margins and earnings growth. Owens Corning's strategic highlights include sustaining safety performance, an upcoming acquisition, and investing in innovation. Business performance in roofing, insulation, and composites segments showed positive trends. The company expects favorable market conditions in North America for the second quarter and maintains a solid financial outlook for 2024.
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FAQ

What is the current stock price of Owens Corning (OC)?

The current stock price of Owens Corning (OC) is $170.91 as of December 23, 2024.

What is the market cap of Owens Corning (OC)?

The market cap of Owens Corning (OC) is approximately 14.6B.

What does Owens Corning do?

Owens Corning develops, manufactures, and markets insulation, roofing, and fiberglass composites globally.

What are the main segments of Owens Corning?

The main segments are Composites, Insulation, and Roofing.

Where is Owens Corning headquartered?

Owens Corning is headquartered in Toledo, Ohio.

How many employees does Owens Corning have?

Owens Corning employs about 15,000 people across 26 countries.

What was Owens Corning's sales figure in 2014?

In 2014, Owens Corning posted sales of $5.3 billion.

How long has Owens Corning been a Fortune 500® company?

Owens Corning has been a Fortune 500® company for 61 consecutive years.

Which segment generates the most revenue for Owens Corning?

The Roofing segment generates the most revenue.

What are the key products in the Roofing segment?

The Roofing segment includes laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt.

Is Owens Corning involved in sustainability initiatives?

Yes, Owens Corning is committed to sustainability and inclusion, actively contributing to environmental and social governance initiatives.

Where can I find more information about Owens Corning?

More information can be found on their website at www.owenscorning.com.

Owens Corning

NYSE:OC

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OC Stock Data

14.55B
84.98M
0.93%
97.19%
1.81%
Building Products & Equipment
Abrasive, Asbestos & Misc Nonmetallic Mineral Prods
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United States of America
TOLEDO