Armstrong World Industries, Inc. (NYSE:AWI) Declares $0.28 Quarterly Dividend

Armstrong World Industries, Inc. (NYSE:AWI) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.28 per share by the construction company on Thursday, May 23rd. This represents a $1.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, May 8th.

Armstrong World Industries has raised its dividend by an average of 8.8% per year over the last three years and has increased its dividend every year for the last 5 years.

Armstrong World Industries Stock Up 0.8 %

Shares of NYSE AWI traded up $0.98 during trading hours on Friday, hitting $116.74. The company had a trading volume of 15,224 shares, compared to its average volume of 362,269. The stock has a market capitalization of $5.11 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. Armstrong World Industries has a 1-year low of $62.03 and a 1-year high of $125.56. The firm’s 50 day moving average is $119.86 and its 200-day moving average is $100.25.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The business had revenue of $312.30 million during the quarter, compared to the consensus estimate of $305.44 million. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Armstrong World Industries’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts expect that Armstrong World Industries will post 5.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

AWI has been the subject of several analyst reports. Truist Financial raised their target price on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group raised Armstrong World Industries from a “sell” rating to a “neutral” rating and boosted their target price for the company from $75.00 to $103.00 in a research note on Thursday, January 4th. The Goldman Sachs Group boosted their target price on Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Three 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, Armstrong World Industries presently has an average rating of “Moderate Buy” and a consensus price target of $100.17.

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.