Armstrong World Industries (NYSE:AWI) Reaches New 1-Year High - Should You Buy?

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock 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

Several brokerages have commented on AWI. Truist Financial boosted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a report on Tuesday. They set an "overweight" rating and a $200.00 price target for the company. Loop Capital dropped their price objective on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Bank of America lifted their target price 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. Finally, The Goldman Sachs Group increased their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of "Hold" and a consensus target price of $162.88.

Armstrong World Industries Stock Up 1.1%

The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.01 and a beta of 1.38. The stock has a 50 day simple moving average of $151.46 and a 200 day simple moving average of $147.31. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.67.

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, beating 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 business had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same quarter in the previous year, the business earned $1.38 EPS. The company's quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in Armstrong World Industries by 0.7% during the fourth quarter. Arizona State Retirement System now owns 12,683 shares of the construction company's stock valued at $1,792,000 after purchasing an additional 82 shares during the last quarter. Elevation Point Wealth Partners LLC raised its position in shares of Armstrong World Industries by 5.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock valued at $221,000 after purchasing an additional 84 shares during the period. Tidal Investments LLC lifted its stake in shares of Armstrong World Industries by 1.8% during the 4th quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock valued at $740,000 after buying an additional 93 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Armstrong World Industries by 1.7% in the 4th quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company's stock worth $865,000 after buying an additional 97 shares during the period. Finally, Bridges Investment Management Inc. raised its holdings in Armstrong World Industries by 3.4% during the 1st quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock valued at $426,000 after acquiring an additional 100 shares during the period. 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.

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