Armstrong World Industries (NYSE:AWI) Sets New 52-Week High - Here's Why

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $169.32 and last traded at $161.41, with a volume of 4512 shares trading hands. The stock had previously closed at $160.58.

Analyst Ratings Changes

AWI has been the topic of a number of research analyst reports. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Bank of America upped their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 target price for the company. Finally, Loop Capital cut their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $162.88.

Armstrong World Industries Stock Down 0.5%

The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.67. The company has a market cap of $7.05 billion, a PE ratio of 25.98, a PEG ratio of 2.05 and a beta of 1.38. The company's fifty day moving average is $152.04 and its 200-day moving average is $147.24.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The firm had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. During the same period last year, the business posted $1.38 EPS. The company's revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's dividend payout ratio (DPR) is 19.68%.

Institutional Trading of Armstrong World Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. Golden State Wealth Management LLC boosted its holdings in Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after acquiring an additional 140 shares during the period. Twin Tree Management LP purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock valued at $47,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Armstrong World Industries during the first quarter worth approximately $54,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after buying an additional 202 shares during the period. 98.93% of the stock is owned by hedge funds and other 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.