Armstrong World Industries (NYSE:AWI) Sets New 1-Year High – Time to Buy?

Armstrong World Industries, Inc. (NYSE:AWI)’s share price reached a new 52-week high on Tuesday . The company traded as high as $144.01 and last traded at $143.58, with a volume of 3201 shares trading hands. The stock had previously closed at $143.08.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. UBS Group upped their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Loop Capital raised their price objective 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. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Up 3.8 %

The company has a market cap of $6.70 billion, a PE ratio of 27.09, a PEG ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The firm has a fifty day simple moving average of $133.30 and a 200 day simple moving average of $123.45.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same quarter last year, the firm posted $1.60 earnings per share. Armstrong World Industries’s revenue was up 11.3% on a year-over-year basis. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.19 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a yield of 0.80%. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Institutional Trading of Armstrong World Industries

A number of institutional investors have recently modified their holdings of AWI. Transcendent Capital Group LLC purchased a new stake in Armstrong World Industries during the third quarter worth approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Armstrong World Industries during the first quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Armstrong World Industries during the third quarter worth about $31,000. First Horizon Advisors Inc. raised its position in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after purchasing an additional 125 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other 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.