Armstrong World Industries (NYSE:AWI) Hits New 12-Month High – Still a Buy?

Shares of Armstrong World Industries, Inc. (NYSE:AWI) reached 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. The stock had previously closed at $157.09.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI lifted their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Jefferies Financial Group upped their target price 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 target price 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. Finally, Loop Capital upped their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Up 1.2 %

The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 1.96 and a beta of 1.13. The stock has a 50 day moving average of $140.01 and a 200 day moving average of $126.32.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share 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 business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same period in the previous year, the business earned $1.60 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. The ex-dividend date of this dividend was 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 dividend yield of 0.77%. Armstrong World Industries’s payout ratio is 21.69%.

Institutional Investors Weigh In On Armstrong World Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Jupiter Asset Management Ltd. grew its holdings in shares of Armstrong World Industries by 1,369.3% during the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock valued at $27,872,000 after purchasing an additional 229,378 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after purchasing an additional 145,133 shares in the last quarter. Natixis Advisors LLC lifted its position in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock worth $48,049,000 after purchasing an additional 110,111 shares during the period. Squarepoint Ops LLC boosted its stake in Armstrong World Industries by 171.0% during the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after buying an additional 79,475 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Armstrong World Industries by 27.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after purchasing an additional 67,954 shares during the last quarter. Institutional investors and hedge funds 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.