Armstrong World Industries (NYSE:AWI) Hits New 1-Year High – Here’s What Happened

Armstrong World Industries, Inc. (NYSE:AWI) shares hit a new 52-week high 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.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Truist Financial raised their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, Loop Capital increased 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a market cap of $6.93 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The stock has a fifty day simple moving average of $140.01 and a two-hundred day simple moving average of $126.32.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the business earned $1.60 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AWI. Transcendent Capital Group LLC purchased a new stake in Armstrong World Industries in the 3rd quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Armstrong World Industries during the third quarter worth $31,000. Allspring Global Investments Holdings LLC grew its position in shares of 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 valued at $35,000 after purchasing an additional 89 shares during the period. Point72 DIFC Ltd acquired a new position in Armstrong World Industries in the third quarter valued at $47,000. Finally, First Horizon Advisors Inc. boosted its stake in Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after buying an additional 125 shares during 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.