Armstrong World Industries (NYSE:AWI) Hits New 52-Week High - Still a Buy?

Shares of Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $144.01 and last traded at $143.58, with a volume of 3201 shares trading hands. The stock had previously closed at $143.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AWI shares. 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 boosted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Evercore ISI boosted 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 research report on Wednesday, October 30th. Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. 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.com, Armstrong World Industries currently has a consensus rating of "Hold" and a consensus target price of $140.83.

Armstrong World Industries Trading Up 3.5 %

The firm's 50 day moving average price is $132.26 and its 200-day moving average price is $123.00. The stock has a market cap of $6.45 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 earnings per share. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.19 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.308 per share. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 7th. Armstrong World Industries's dividend payout ratio is currently 21.69%.

Institutional Trading of Armstrong World Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Armstrong World Industries in the first quarter worth $27,000. Texas Permanent School Fund Corp increased its stake in shares of Armstrong World Industries by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 38,666 shares of the construction company's stock worth $4,803,000 after purchasing an additional 506 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Armstrong World Industries in the first quarter worth $1,150,000. Envestnet Portfolio Solutions Inc. grew its stake in Armstrong World Industries by 14.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,928 shares of the construction company's stock valued at $612,000 after acquiring an additional 629 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Armstrong World Industries during the first quarter valued at $237,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.