Armstrong World Industries (NYSE:AWI) Hits New 12-Month High - Time to Buy?

Shares of Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $155.44 and last traded at $155.15, with a volume of 4636 shares changing hands. The stock had previously closed at $153.70.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, August 20th. UBS Group lifted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Evercore ISI increased their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Truist Financial increased their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price target 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. 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.com, the company has a consensus rating of "Hold" and an average price target of $140.83.

Armstrong World Industries Price Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The business's 50 day simple moving average is $134.96 and its 200-day simple moving average is $124.31. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping 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%. Armstrong World Industries's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 EPS. Research analysts anticipate that Armstrong World Industries, Inc. will post 6.17 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 given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.79%. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, November 7th. Armstrong World Industries's payout ratio is currently 21.69%.

Institutional Trading of Armstrong World Industries

A number of institutional investors and hedge funds have recently modified their holdings of AWI. OneDigital Investment Advisors LLC raised its stake in shares of Armstrong World Industries by 4.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company's stock valued at $245,000 after buying an additional 76 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Armstrong World Industries by 5.9% in the 3rd quarter. Blue Trust Inc. now owns 1,428 shares of the construction company's stock worth $188,000 after purchasing an additional 79 shares during the last quarter. US Bancorp DE grew its holdings in shares of Armstrong World Industries by 13.9% in the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company's stock worth $88,000 after purchasing an additional 82 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company's stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, CWM LLC grew its holdings in Armstrong World Industries by 17.3% during the 2nd quarter. CWM LLC now owns 644 shares of the construction company's stock worth $73,000 after acquiring an additional 95 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.