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

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

Armstrong World Industries has raised its dividend by an average of 8.8% annually over the last three years. Armstrong World Industries has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 3.5 %

Shares of NYSE:AWI opened at $148.03 on Wednesday. Armstrong World Industries has a 52-week low of $79.39 and a 52-week high of $149.14. The company has a market capitalization of $6.45 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company has a 50-day simple moving average of $132.73 and a 200 day simple moving average of $123.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $1.60 earnings per share. Sell-side analysts forecast that Armstrong World Industries will post 6.19 earnings per share for the current year.

Analysts Set New Price Targets

AWI has been the subject of several research reports. Truist Financial raised 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 report on Wednesday, October 30th. UBS Group raised 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 report on Wednesday, October 30th. Evercore ISI raised their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised 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 report on Wednesday, October 9th. Finally, StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.