Armstrong World Industries, Inc. (NYSE:AWI) Announces Quarterly Dividend of $0.34

Key Points

• Armstrong World Industries announced a quarterly dividend of $0.34 per share, representing a 10.1% increase from the previous dividend of $0.31.
• The company has a dividend payout ratio of 15.6%, indicating that its dividends are well-covered by earnings, with an expected future payout ratio of 17.9% based on projected earnings of $6.87 per share.
• Armstrong World Industries has experienced significant investment activity, with several hedge funds increasing their positions in the company during the first quarter.

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) declared a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Thursday, November 6th will be given a dividend of 0.339 per share by the construction company on Thursday, November 20th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 6th. This is a 10.1% increase from Armstrong World Industries's previous quarterly dividend of $0.31.

Armstrong World Industries has a dividend payout ratio of 15.6% meaning 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 Price Performance

NYSE AWI opened at $201.04 on Thursday. The business's fifty day moving average price is $196.42 and its 200-day moving average price is $170.99. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.04 and a beta of 1.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. Armstrong World Industries has a 1-year low of $122.37 and a 1-year high of $205.97.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its earnings results on Monday, November 6th. The construction company reported $1.36 EPS for the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The company had revenue of $325.00 million for the quarter. On average, equities analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current year.

Hedge Funds Weigh In On Armstrong World Industries

A number of large investors have recently made changes to their positions in AWI. GAMMA Investing LLC increased its position in shares of Armstrong World Industries by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock valued at $283,000 after acquiring an additional 169 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Armstrong World Industries by 113.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after purchasing an additional 2,538 shares during the last quarter. Lecap Asset Management Ltd. boosted its holdings in Armstrong World Industries by 178.5% in the first quarter. Lecap Asset Management Ltd. now owns 11,603 shares of the construction company's stock valued at $1,635,000 after purchasing an additional 7,437 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after acquiring an additional 140 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $892,000. 98.93% of the stock is owned by institutional investors and hedge funds.

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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