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

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, March 6th.

Armstrong World Industries has increased its dividend payment by an average of 10.1% annually over the last three years. Armstrong World Industries has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 1.8 %

AWI traded down $2.62 during trading hours on Friday, hitting $146.72. 327,842 shares of the company's stock were exchanged, compared to its average volume of 209,004. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.65 and a beta of 1.19. Armstrong World Industries has a 1-year low of $110.68 and a 1-year high of $164.40. The stock's 50-day moving average is $147.60 and its two-hundred day moving average is $141.32. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI increased 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 note on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. 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 research note on Wednesday, October 30th. Loop Capital boosted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Armstrong World Industries 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.