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

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Thursday, August 7th will be paid a dividend of 0.308 per share by the construction company on Thursday, August 21st. This represents a $1.23 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, August 7th.

Armstrong World Industries has a dividend payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. 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 AWI traded up $0.23 during mid-day trading on Thursday, reaching $167.73. 245,095 shares of the company's stock were exchanged, compared to its average volume of 300,256. The business's fifty day simple moving average is $159.27 and its 200-day simple moving average is $149.79. Armstrong World Industries has a 52-week low of $117.92 and a 52-week high of $170.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The stock has a market capitalization of $7.28 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The firm had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same quarter in the previous year, the company posted $1.38 EPS. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current year.

Institutional Investors Weigh In On Armstrong World Industries

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp increased its position in Armstrong World Industries by 142.0% in the 1st quarter. Jones Financial Companies Lllp now owns 3,061 shares of the construction company's stock valued at $431,000 after buying an additional 1,796 shares in the last quarter. Jane Street Group LLC raised its position in shares of Armstrong World Industries by 144.2% in the first quarter. Jane Street Group LLC now owns 70,136 shares of the construction company's stock worth $9,881,000 after buying an additional 41,417 shares in the last quarter. Millennium Management LLC increased its stake in Armstrong World Industries by 571.7% in the first quarter. Millennium Management LLC now owns 117,696 shares of the construction company's stock valued at $16,581,000 after acquiring an additional 100,175 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Armstrong World Industries by 63.3% during the first quarter. Goldman Sachs Group Inc. now owns 125,181 shares of the construction company's stock valued at $17,636,000 after buying an additional 48,544 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analyst Weigh In

AWI has been the topic of several research reports. Bank of America upped their price target on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective for the company. Finally, Loop Capital cut their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $162.88.

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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