Armstrong World Industries (NYSE:AWI) Hits New 1-Year High at $83.48

Armstrong World Industries, Inc. (NYSE:AWI) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $83.48 and last traded at $83.23, with a volume of 120445 shares changing hands. The stock had previously closed at $80.15.

Wall Street Analyst Weigh In

Several analysts have weighed in on AWI shares. Loop Capital raised their price target on Armstrong World Industries from $75.00 to $84.00 and gave the company a “hold” rating in a report on Wednesday, July 26th. Truist Financial lifted their price objective on shares of Armstrong World Industries from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. UBS Group increased their target price on Armstrong World Industries from $69.00 to $75.00 and gave the company a “sell” rating in a research note on Tuesday, July 25th. TheStreet raised Armstrong World Industries from a “c+” rating to a “b-” rating in a research note on Friday, August 4th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.75.

Armstrong World Industries Price Performance

The stock has a market cap of $3.65 billion, a PE ratio of 16.50, a PEG ratio of 1.85 and a beta of 1.11. The business’s 50-day simple moving average is $73.90 and its 200-day simple moving average is $72.34. The company has a quick ratio of 1.31, a current ratio of 1.88 and a debt-to-equity ratio of 1.07.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 24th. The construction company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.29. Armstrong World Industries had a return on equity of 41.76% and a net margin of 17.54%. The business had revenue of $347.30 million during the quarter, compared to analyst estimates of $330.42 million. During the same quarter in the prior year, the company posted $1.36 EPS. Armstrong World Industries’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts expect that Armstrong World Industries, Inc. will post 5.13 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, November 1st. This represents a $1.12 annualized dividend and a dividend yield of 1.35%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.25. Armstrong World Industries’s payout ratio is currently 22.36%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in Armstrong World Industries by 28.9% in the first quarter. American Century Companies Inc. now owns 8,825 shares of the construction company’s stock worth $794,000 after purchasing an additional 1,980 shares during the period. HighTower Advisors LLC grew its stake in shares of Armstrong World Industries by 7.3% in the 1st quarter. HighTower Advisors LLC now owns 13,988 shares of the construction company’s stock worth $1,262,000 after buying an additional 950 shares during the last quarter. Private Advisor Group LLC increased its position in Armstrong World Industries by 7.5% during the 1st quarter. Private Advisor Group LLC now owns 3,949 shares of the construction company’s stock valued at $355,000 after buying an additional 275 shares in the last quarter. Bank of Montreal Can raised its stake in Armstrong World Industries by 32.0% during the first quarter. Bank of Montreal Can now owns 29,164 shares of the construction company’s stock valued at $2,723,000 after buying an additional 7,064 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in Armstrong World Industries in the first quarter worth $178,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

About Armstrong World Industries

Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling and wall systems in the United States, Canada, and Latin America. It operates through Mineral Fiber and Architectural Specialties segments. The company offers suspended mineral fiber, soft fiber, fiberglass wool, and metal ceiling systems, as well as wood, wood fiber, glass-reinforced-gypsum, and felt ceiling and wall products; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings and walls for use in commercial settings; and facade and partition products.