Armstrong World Industries (NYSE:AWI) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Armstrong World Industries, Inc. (NYSE:AWI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $133.88 and traded as high as $143.46. Armstrong World Industries shares last traded at $140.13, with a volume of 183,040 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AWI. Evercore ISI raised their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on 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 increased their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Trading Up 1.4 %

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 business’s 50-day moving average is $150.65 and its two-hundred day moving average is $134.08. The firm has a market cap of $6.19 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.01 and a beta of 1.18.

Armstrong World Industries (NYSE:AWI) last posted its earnings results 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 firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is 21.69%.

Hedge Funds Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in AWI. GAMMA Investing LLC raised its holdings in shares of Armstrong World Industries by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,839 shares of the construction company’s stock worth $260,000 after acquiring an additional 316 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Armstrong World Industries by 53.0% in the third quarter. Franklin Resources Inc. now owns 22,982 shares of the construction company’s stock valued at $3,175,000 after purchasing an additional 7,958 shares during the last quarter. Tidal Investments LLC grew its holdings in Armstrong World Industries by 8.0% in the 3rd quarter. Tidal Investments LLC now owns 5,141 shares of the construction company’s stock valued at $676,000 after buying an additional 381 shares during the last quarter. Sanctuary Advisors LLC increased its position in Armstrong World Industries by 21.8% during the third quarter. Sanctuary Advisors LLC now owns 5,590 shares of the construction company’s stock worth $735,000 after acquiring an additional 1,000 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in shares of Armstrong World Industries by 22.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,141 shares of the construction company’s stock worth $281,000 after purchasing an additional 391 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.