Armstrong World Industries, Inc. Declares Quarterly Dividend of $0.28 (NYSE:AWI)

Armstrong World Industries, Inc. (NYSE:AWI) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Thursday, August 8th will be paid a dividend of 0.28 per share by the construction company on Thursday, August 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, August 8th.

Armstrong World Industries has increased its dividend payment by an average of 8.8% annually over the last three years. Armstrong World Industries has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Armstrong World Industries to earn $6.68 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 16.8%.

Armstrong World Industries Stock Up 0.3 %

Shares of Armstrong World Industries stock opened at $121.38 on Wednesday. Armstrong World Industries has a 12 month low of $68.35 and a 12 month high of $134.90. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The stock has a market cap of $5.31 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The business has a fifty day simple moving average of $118.08 and a 200 day simple moving average of $116.17.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Research analysts predict that Armstrong World Industries will post 6.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AWI. Evercore ISI boosted their target price on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Truist Financial boosted their target price on Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.75.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.