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

by · The Cerbat Gem

Armstrong World Industries, Inc. (NYSE:AWI – Get Free Report) declared a 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. The ex-dividend date of this dividend is Thursday, November 7th.

Armstrong World Industries has a payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Armstrong World Industries to earn $6.70 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 16.7%.

Armstrong World Industries Stock Up 1.3 %

NYSE:AWI traded up $1.84 on Thursday, hitting $140.02. The stock had a trading volume of 203,876 shares, compared to its average volume of 310,888. The stock has a market cap of $6.13 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The firm’s fifty day simple moving average is $129.67 and its two-hundred day simple moving average is $121.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. Armstrong World Industries has a 1 year low of $72.23 and a 1 year high of $142.33.

Armstrong World Industries (NYSE:AWI – Get Free Report) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 earnings per share. Analysts predict that Armstrong World Industries will post 6.07 earnings per share for the current year.

Wall Street Analyst Weigh In

AWI has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI increased their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Truist Financial raised their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group lifted their price target on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average target price of $133.00.

View Our Latest Stock Report on AWI

About Armstrong World Industries

(Get Free Report)

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.

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