Armstrong World Industries, Inc. (NYSE: AWI) Declares Quarterly Dividend of $0.23
Armstrong World Industries, Inc. (NYSE: AWI – Get Rating) announced a quarterly dividend on Thursday, April 21, reports The Wall Street Journal. Shareholders of record on Thursday, May 5 will receive a dividend of 0.231 per share from the construction company on Thursday, May 19. This represents an annualized dividend of $0.92 and a dividend yield of 0.98%. The ex-date of this dividend is Wednesday, May 4.
Armstrong World Industries has a payout ratio of 15.6%, which means its dividend is sufficiently covered by earnings. Research analysts expect Armstrong World Industries to earn $5.84 per share next year, meaning the company should continue to be able to cover its $0.92 annual dividend with a expected future payout ratio of 15.8%.
Shares of AWI rose $1.64 on Thursday, hitting $94.45. 382,509 shares were traded, against an average volume of 430,851. The company has a current ratio of 1.54, a quick ratio of 1.11 and a debt ratio of 1.20. The company has a market capitalization of $4.48 billion, a PE ratio of 24.85, a P/E/G ratio of 1.00 and a beta of 1.21. Armstrong World Industries has a one-year low of $85.74 and a one-year high of $118.14. The company’s 50-day moving average is $91.75 and its two-hundred-day moving average is $101.49.
Armstrong World Industries (NYSE: AWI – Get Rating) last released its quarterly results on Tuesday, February 22. The construction company reported earnings per share of $1.09 for the quarter, beating the consensus estimate of $1.06 by $0.03. The company posted revenue of $282.50 million in the quarter, versus a consensus estimate of $276.08 million. Armstrong World Industries had a return on equity of 40.62% and a net margin of 16.56%. The company’s quarterly revenue increased by 18.3% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.77. On average, sell-side analysts expect Armstrong World Industries to post earnings per share of 5.12 for the current year.
Institutional investors and hedge funds have recently changed their stakes in the company. Goldman Sachs Group Inc. increased its position in Armstrong World Industries by 9.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 89,542 shares of the construction company worth $10,398,000 after purchasing an additional 7,419 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Armstrong World Industries in Q4, valued at approximately $338,000. Cypress Capital Group purchased a new stake in Armstrong World Industries during Q4, valued at approximately $205,000. NEXT Financial Group Inc increased its position in Armstrong World Industries by 75.4% during the 4th quarter. NEXT Financial Group Inc now owns 314 shares of the construction company worth $36,000 after acquiring 135 additional shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in Armstrong World Industries by 7.1% in the 4th quarter. Penserra Capital Management LLC now owns 5,609 shares of the construction company worth $540,000 after purchasing an additional 372 shares during the period. 99.57% of the shares are held by institutional investors and hedge funds.
AWI has been the subject of several analyst reports. Loop Capital reduced its target price on Armstrong World Industries from $110.00 to $102.00 in a Wednesday, February 23 research note. Jefferies Financial Group downgraded Armstrong World Industries from a “hold” to a “buy” rating and raised its target price for the stock from $101.00 to $111.00 in a Monday 21 research note. March. StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a Friday, April 8 research rating. UBS Group launched coverage on Armstrong World Industries in a research note on Wednesday, January 19. They issued a “sell” rating and a target price of $103.00 for the company. Finally, TheStreet downgraded Armstrong World Industries from a “b-” rating to a “c+” rating in a Monday, March 21 research note. Two research analysts gave the stock a sell rating, two gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $117.67.
Armstrong World Industries Company Profile (Get a rating)
Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures and sells ceiling systems primarily for the construction and renovation of residential and commercial buildings in the United States, Canada and Latin America. The Company operates through Mineral Fiber and Architectural Specialties segments.
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