Armstrong World Industries (NYSE:AWI) Sets New 12-Month High – Here’s What Happened

Shares of Armstrong World Industries, Inc. (NYSE:AWI) hit a new 52-week high on Thursday . The stock traded as high as $142.28 and last traded at $141.42, with a volume of 2736 shares. The stock had previously closed at $141.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AWI shares. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI increased their target price on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted 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 upped their price target on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Truist Financial lifted their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average target price of $133.00.

Armstrong World Industries Price Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. The company has a fifty day moving average price of $128.53 and a 200 day moving average price of $121.35. The company has a market capitalization of $6.17 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.12 annualized dividend and a yield of 0.79%. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in Armstrong World Industries in the 1st quarter worth approximately $2,081,000. Assenagon Asset Management S.A. increased its holdings in shares of Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after purchasing an additional 33,290 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of Armstrong World Industries during the first quarter valued at about $3,097,000. Duality Advisers LP acquired a new stake in Armstrong World Industries in the first quarter worth about $1,150,000. Finally, Sei Investments Co. grew its position in Armstrong World Industries by 185.3% in the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after buying an additional 33,927 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

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.