Armstrong World Industries, Inc. (NYSE:AWI – Get Free Report) declared a quarterly dividend on Thursday, July 25th, 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 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, August 8th.
Armstrong World Industries has increased its dividend payment by an average of 8.8% annually over the last three years. Armstrong World Industries has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance
Shares of NYSE:AWI traded up $1.13 on Thursday, hitting $127.68. 240,030 shares of the company were exchanged, compared to its average volume of 343,085. The company’s 50 day moving average price is $115.79 and its two-hundred day moving average price is $114.22. Armstrong World Industries has a one year low of $68.35 and a one year high of $130.40. 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 market capitalization of $5.59 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.96 and a beta of 1.14.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on AWI shares. Evercore ISI lifted their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Finally, UBS Group lifted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries has an average rating of “Moderate Buy” and a consensus price target of $117.60.
Check Out 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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