Armstrong World Industries, Inc. Declares Quarterly Dividend of $0.31 (NYSE:AWI)

Armstrong World Industries, Inc. (NYSE:AWI) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Thursday, March 6th will be given a dividend of 0.308 per share by the construction company on Thursday, March 20th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, March 6th.

Armstrong World Industries has increased its dividend payment by an average of 10.1% annually over the last three years. Armstrong World Industries has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Armstrong World Industries to earn $6.87 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 17.9%.

Armstrong World Industries Stock Down 2.0 %

Shares of NYSE AWI opened at $149.16 on Friday. The company has a market cap of $6.50 billion, a P/E ratio of 26.31, a PEG ratio of 1.65 and a beta of 1.19. The firm has a 50-day simple moving average of $147.74 and a two-hundred day simple moving average of $141.14. Armstrong World Industries has a 1 year low of $110.68 and a 1 year high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Wall Street Analyst Weigh In

Several brokerages have commented on AWI. Loop Capital upped their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Truist Financial lifted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus price target of $140.83.

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.