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

Armstrong World Industries, Inc. (NYSE:AWI) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.28 per share by the construction company on Thursday, May 23rd. This represents a $1.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, May 8th.

Armstrong World Industries has increased its dividend payment by an average of 8.8% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Armstrong World Industries has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Armstrong World Industries to earn $6.62 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 16.9%.

Armstrong World Industries Stock Up 1.0 %

NYSE AWI opened at $116.80 on Tuesday. The stock’s 50 day simple moving average is $119.86 and its 200 day simple moving average is $102.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.22. Armstrong World Industries has a one year low of $62.03 and a one year high of $125.56. The firm has a market cap of $5.11 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $319.44 million. During the same quarter in the prior year, the business earned $1.12 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Armstrong World Industries will post 5.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AWI. Evercore ISI boosted their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 1st. UBS Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Truist Financial raised their price target on Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $110.17.

About Armstrong World Industries

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.