Armstrong World Industries (NYSE:AWI) Reaches New 1-Year High - Still a Buy?

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $158.82 and last traded at $157.79, with a volume of 2123 shares traded. The stock had previously closed at $157.09.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AWI. Jefferies Financial Group boosted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. UBS Group lifted 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. Evercore ISI increased their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Finally, Loop Capital increased their price target on 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 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 an average price target of $140.83.

Armstrong World Industries Stock Performance

The firm's 50 day simple moving average is $140.65 and its 200 day simple moving average is $126.68. The firm has a market cap of $6.93 billion, a PE ratio of 28.06, a PEG ratio of 2.01 and a beta of 1.13. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS 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 company had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same period in the prior year, the company earned $1.60 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. On average, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS 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. Investors of record on Thursday, November 7th were paid a dividend of $0.308 per share. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.77%. Armstrong World Industries's dividend payout ratio is presently 21.69%.

Institutional Investors Weigh In On Armstrong World Industries

Large investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new position in shares of Armstrong World Industries during the third quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in Armstrong World Industries in the 3rd quarter valued at $31,000. Allspring Global Investments Holdings LLC lifted its position in shares of Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company's stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Armstrong World Industries during the third quarter valued at $47,000. Finally, UMB Bank n.a. boosted its stake in shares of Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company's stock valued at $58,000 after purchasing an additional 153 shares during the period. 98.93% of the stock is owned by 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.