Armstrong World Industries (NYSE:AWI) Sets New 1-Year High - What's Next?

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group lifted their target price 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. Evercore ISI upped their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an "in-line" rating in a research report on Wednesday, July 31st. Truist Financial boosted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Jefferies Financial Group upped their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Armstrong World Industries has a consensus rating of "Moderate Buy" and a consensus price target of $133.00.

Armstrong World Industries Price Performance

The company's 50-day moving average price is $127.68 and its 200-day moving average price is $121.09. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.07. The company had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm's quarterly 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, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.07 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.12 annualized dividend and a yield of 0.79%. Armstrong World Industries's payout ratio is 21.05%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Armstrong World Industries by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company's stock valued at $468,315,000 after purchasing an additional 517,699 shares in the last quarter. GAMMA Investing LLC increased its holdings in Armstrong World Industries by 25.3% in the first quarter. GAMMA Investing LLC now owns 620 shares of the construction company's stock valued at $77,000 after buying an additional 125 shares during the last quarter. Park Avenue Securities LLC raised its stake in Armstrong World Industries by 7.5% in the first quarter. Park Avenue Securities LLC now owns 6,530 shares of the construction company's stock valued at $811,000 after buying an additional 457 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Armstrong World Industries during the 1st quarter worth about $27,000. Finally, Claret Asset Management Corp purchased a new stake in Armstrong World Industries during the 1st quarter worth about $232,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

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.