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

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

Armstrong World Industries has raised its dividend 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. Research 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 Trading Down 1.3 %

Armstrong World Industries stock traded down $1.94 during trading on Wednesday, hitting $152.26. The company’s stock had a trading volume of 172,284 shares, compared to its average volume of 203,284. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.67 and a beta of 1.19. The stock’s fifty day moving average is $147.96 and its 200 day moving average is $141.01. Armstrong World Industries has a 1-year low of $110.31 and a 1-year high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI increased their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and an average target price of $140.83.

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.