Armstrong World Industries (NYSE:AWI) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $133.88 and traded as high as $143.46. Armstrong World Industries shares last traded at $140.13, with a volume of 183,040 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AWI. UBS Group raised their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Loop Capital lifted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Evercore ISI increased their target price 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 lifted their price target 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 objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Armstrong World Industries presently has a consensus rating of "Hold" and an average price target of $140.83.

Armstrong World Industries Stock Performance

The firm has a market capitalization of $6.19 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. 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 fifty day simple moving average is $150.65 and its 200-day simple moving average is $134.08.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $1.60 earnings per share. As a group, equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.308 dividend. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries's payout ratio is currently 21.69%.

Hedge Funds Weigh In On Armstrong World Industries

Several institutional investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its holdings in shares of Armstrong World Industries by 4.3% in the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company's stock valued at $245,000 after purchasing an additional 76 shares in the last quarter. Blue Trust Inc. grew its stake 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 buying an additional 79 shares in the last quarter. US Bancorp DE increased 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 buying an additional 82 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 valued at $35,000 after buying an additional 89 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Armstrong World Industries by 3.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,033 shares of the construction company's stock valued at $399,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other 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.