Armstrong World Industries (NYSE:AWI) Hits New 52-Week High – Here’s Why

Armstrong World Industries, Inc. (NYSE:AWI) shares reached a new 52-week high on Friday . The stock traded as high as $158.82 and last traded at $157.79, with a volume of 2123 shares changing hands. The stock had previously closed at $157.09.

Analysts Set New Price Targets

A number of equities research analysts have commented on AWI shares. Evercore ISI raised their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Truist Financial lifted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Trading Up 1.3 %

The firm has a fifty day moving average of $140.65 and a two-hundred day moving average of $126.68. The company has a market cap of $6.93 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $1.60 EPS. As a group, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.308 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.77%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is currently 21.69%.

Institutional Investors Weigh In On Armstrong World Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new stake in Armstrong World Industries during the third quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Armstrong World Industries during the 3rd quarter worth $31,000. Allspring Global Investments Holdings LLC grew its position in Armstrong World Industries by 41.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after acquiring an additional 89 shares in the last quarter. Point72 DIFC Ltd bought a new position in Armstrong World Industries in the third quarter valued at $47,000. Finally, First Horizon Advisors Inc. increased its stake in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after acquiring an additional 125 shares during the last quarter. 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, 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.