Armstrong World Industries (NYSE:AWI) Sets New 12-Month High – Still a Buy?

Shares of Armstrong World Industries, Inc. (NYSE:AWI) reached a new 52-week high during trading on Friday . The stock traded as high as $136.60 and last traded at $136.26, with a volume of 248073 shares changing hands. The stock had previously closed at $133.30.

Analysts Set New Price Targets

AWI has been the topic of a number of analyst reports. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI upped their price target on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday. Truist Financial boosted their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, UBS Group increased their price target on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

Armstrong World Industries Stock Performance

The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average of $126.34 and a 200-day moving average of $120.70.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. During the same period last year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.82%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.44%.

Institutional Trading of Armstrong World Industries

A number of hedge funds have recently modified their holdings of AWI. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 89 shares in the last quarter. CWM LLC grew its holdings in Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Armstrong World Industries by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock valued at $2,491,000 after buying an additional 100 shares in the last quarter. Covestor Ltd raised its stake in shares of Armstrong World Industries by 20.4% during the 1st quarter. Covestor Ltd now owns 596 shares of the construction company’s stock worth $74,000 after buying an additional 101 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Armstrong World Industries by 67.3% during the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock valued at $32,000 after buying an additional 105 shares in 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.