Armstrong World Industries (NYSE:AWI) Hits New 12-Month High - What's Next?

Key Points

• Armstrong World Industries reached a new 52-week high of $194.34 during mid-day trading, closing at $194.13, with a trading volume of 585,664 shares.
• The company reported earnings of $2.09 EPS for the last quarter, exceeding analyst expectations by 19%, and revenue of $424.60 million, representing a 16.3% year-over-year increase.
• Armstrong World Industries announced a quarterly dividend of $0.308, providing a yield of 0.6% for investors, to be paid to shareholders on August 21st.

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $194.34 and last traded at $194.13, with a volume of 585664 shares traded. The stock had previously closed at $189.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Evercore ISI upped their target price on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Bank of America increased their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, UBS Group reissued a "neutral" rating and issued a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $177.13.

Armstrong World Industries Stock Up 2.4%

The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $8.40 billion, a P/E ratio of 28.72, a PEG ratio of 2.08 and a beta of 1.43. The firm has a 50-day moving average price of $167.39 and a two-hundred day moving average price of $153.67.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. The firm had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. Armstrong World Industries's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share. Equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 7th. Armstrong World Industries's dividend payout ratio (DPR) is 18.20%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AWI. Golden State Wealth Management LLC lifted its position in Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after purchasing an additional 140 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Armstrong World Industries by 652.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares during the period. MAI Capital Management acquired a new position in Armstrong World Industries during the second quarter worth $47,000. Versant Capital Management Inc acquired a new position in Armstrong World Industries during the first quarter worth $54,000. Finally, Parallel Advisors LLC raised its stake in Armstrong World Industries by 28.9% during the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock worth $75,000 after acquiring an additional 103 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

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.

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