Armstrong World Industries, Inc. (NYSE:AWI) Announces $0.31 Dividend

Armstrong World Industries, Inc. (NYSE:AWI) declared a dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.308 per share by the construction company on Thursday, November 21st. The ex-dividend date of this dividend is Thursday, November 7th.

Armstrong World Industries has a dividend payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Armstrong World Industries to earn $6.70 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 16.7%.

Armstrong World Industries Stock Performance

AWI traded up $1.84 on Thursday, reaching $140.02. The company had a trading volume of 204,002 shares, compared to its average volume of 310,888. The stock has a 50-day moving average price of $129.67 and a 200-day moving average price of $121.72. The stock has a market capitalization of $6.13 billion, a PE ratio of 26.04, a P/E/G ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 1 year low of $72.23 and a 1 year high of $142.33. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $365.10 million for the quarter, compared to the consensus estimate of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. As a group, research analysts forecast that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AWI shares. UBS Group increased their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Truist Financial upped their price target on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI lifted their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group increased their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.00.

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.