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

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

Wall Street Analyst Weigh In

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

Armstrong World Industries Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The firm’s 50 day moving average price is $140.65 and its 200 day moving average price is $126.68. The stock has a market capitalization of $6.93 billion, a P/E ratio of 28.06, a P/E/G ratio of 2.01 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same quarter in the previous year, the business earned $1.60 EPS. Armstrong World Industries’s revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.308 dividend. 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 21.69%.

Institutional Investors Weigh In On Armstrong World Industries

Large investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Armstrong World Industries by 3.7% during the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after purchasing an additional 51,839 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Armstrong World Industries by 1.5% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock valued at $130,389,000 after buying an additional 17,075 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after buying an additional 34,028 shares during the period. Van Berkom & Associates Inc. increased its stake in shares of Armstrong World Industries by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock worth $82,168,000 after acquiring an additional 14,450 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after acquiring an additional 67,798 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

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.