Armstrong World Industries, Inc. (NYSE:AWI – Get Free Report) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Thursday, August 8th will be given a dividend of 0.28 per share by the construction company on Thursday, August 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, August 8th.
Armstrong World Industries has increased its dividend payment by an average of 8.8% per year over the last three years. Armstrong World Industries has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Armstrong World Industries to earn $6.59 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 17.0%.
Armstrong World Industries Trading Up 0.9 %
AWI traded up $1.12 on Thursday, hitting $127.67. 364,214 shares of the company were exchanged, compared to its average volume of 343,960. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.79. The firm has a fifty day simple moving average of $115.79 and a two-hundred day simple moving average of $114.22. The stock has a market capitalization of $5.59 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. Armstrong World Industries has a 12 month low of $68.35 and a 12 month high of $130.40.
Analysts Set New Price Targets
AWI has been the subject of several recent analyst reports. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Evercore ISI increased their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. Finally, UBS Group boosted their target price on Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.60.
Read Our Latest Report on Armstrong World Industries
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.
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