Armstrong World Industries (NYSE:AWI) Hits New 52-Week High - What's Next?

Key Points

• Armstrong World Industries (NYSE:AWI) hit a new 52-week high of $202.07 during trading, closing at $201.68.
• Analysts have set new price targets for Armstrong, with Truist Financial raising its target to $230.00 while Bank of America increased its target to $220.00, maintaining a "buy" rating.
• The company has announced a quarterly dividend of $0.308 per share, resulting in an annual yield of 0.6% and a payout ratio of 18.20%.

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $202.07 and last traded at $201.68, with a volume of 39341 shares. The stock had previously closed at $198.84.

Analysts Set New Price Targets

Several research firms have recently weighed in on AWI. Truist Financial raised their price objective on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Bank of America lifted their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price on the stock. Finally, Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the stock a "hold" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of "Moderate Buy" and an average price target of $197.14.

Armstrong World Industries Price Performance

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 firm has a market capitalization of $8.68 billion, a PE ratio of 29.63, a PEG ratio of 1.96 and a beta of 1.45. The firm's fifty day simple moving average is $195.26 and its 200-day simple moving average is $168.61.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $325.00 million during the quarter. On average, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 18.20%.

Hedge Funds Weigh In On Armstrong World Industries

A number of hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Armstrong World Industries by 0.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company's stock worth $188,615,000 after purchasing an additional 8,762 shares during the period. Burgundy Asset Management Ltd. boosted its position in shares of Armstrong World Industries by 3.0% in the second quarter. Burgundy Asset Management Ltd. now owns 1,321,078 shares of the construction company's stock worth $214,596,000 after purchasing an additional 38,082 shares during the period. Geode Capital Management LLC boosted its position in shares of Armstrong World Industries by 0.8% in the second quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company's stock worth $153,248,000 after purchasing an additional 7,378 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Armstrong World Industries by 121.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company's stock worth $119,718,000 after purchasing an additional 404,000 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Armstrong World Industries by 0.3% during the second quarter. Invesco Ltd. now owns 682,445 shares of the construction company's stock worth $110,856,000 after acquiring an additional 1,823 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.