Armstrong World Industries, Inc. (NYSE:AWI) Plans Dividend Increase – $0.31 Per Share

Armstrong World Industries, Inc. (NYSE:AWI) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.308 per share by the construction company on Thursday, November 21st. This represents a $1.23 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28.

Armstrong World Industries has increased its dividend payment by an average of 8.8% per year over the last three years. Armstrong World Industries has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Armstrong World Industries to earn $6.74 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 18.2%.

Armstrong World Industries Price Performance

AWI stock opened at $148.03 on Wednesday. The stock has a 50-day moving average price of $132.73 and a two-hundred day moving average price of $123.24. The stock has a market cap of $6.45 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a 1 year low of $79.39 and a 1 year high of $149.14.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Equities analysts forecast that Armstrong World Industries will post 6.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AWI shares. UBS Group increased their price objective 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. Truist Financial increased their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital increased their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.