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

Armstrong World Industries, Inc. (NYSE:AWI) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Thursday, March 6th will be paid a dividend of 0.308 per share by the construction company on Thursday, March 20th. This represents a $1.23 annualized dividend and a dividend yield of 0.81%.

Armstrong World Industries has raised its dividend payment by an average of 10.1% per year over the last three years. Armstrong World Industries has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of AWI stock traded down $1.94 during midday trading on Wednesday, hitting $152.26. The company had a trading volume of 172,284 shares, compared to its average volume of 203,284. The company’s 50 day simple moving average is $147.96 and its 200 day simple moving average is $141.01. Armstrong World Industries has a 52-week low of $110.31 and a 52-week high of $164.40. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group raised their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Loop Capital raised their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Finally, Truist Financial lifted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.