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

Armstrong World Industries, Inc. (NYSE:AWI) announced 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% annually over the last three years. Armstrong World Industries has a dividend payout ratio of 16.1% indicating that 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 Performance

Shares of Armstrong World Industries stock opened at $152.26 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a 52 week low of $110.31 and a 52 week high of $164.40. The firm’s 50 day moving average is $147.86 and its two-hundred day moving average is $141.09. The firm has a market capitalization of $6.64 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.67 and a beta of 1.19.

Analysts Set New Price Targets

A number of research firms recently commented on AWI. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Evercore ISI raised their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised 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. Finally, Loop Capital lifted 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.