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

Key Points

• Armstrong World Industries (NYSE:AWI) reached a new 52-week high of $192.00 during trading, reflecting strong investor interest with a recent trading price at $189.82.
• The company reported strong earnings results for the last quarter, with earnings per share of $2.09, significantly exceeding analysts' expectations of $1.75.
• Armstrong World Industries announced a quarterly dividend of $0.308, indicating an annualized dividend of $1.23 and a yield of 0.7%, with a payout ratio of 18.20%.

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $192.00 and last traded at $189.82, with a volume of 4628 shares changing hands. The stock had previously closed at $190.56.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AWI. 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 report on Thursday, May 15th. Evercore ISI increased their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. Truist Financial set a $195.00 price target on Armstrong World Industries and gave the company a "buy" rating in a research note on Wednesday, July 30th. UBS Group reiterated a "neutral" rating and set a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Stock Down 0.7%

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The company has a market capitalization of $8.19 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.10 and a beta of 1.43. The stock has a 50-day moving average price of $164.60 and a 200-day moving average price of $152.56.

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

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's payout ratio is presently 18.20%.

Institutional Investors Weigh In On Armstrong World Industries

Several hedge funds and other institutional investors have recently modified their holdings of AWI. LPL Financial LLC increased its holdings in shares of Armstrong World Industries by 95.9% during the fourth quarter. LPL Financial LLC now owns 30,974 shares of the construction company's stock valued at $4,378,000 after acquiring an additional 15,162 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Armstrong World Industries by 29.1% during the fourth quarter. JPMorgan Chase & Co. now owns 63,244 shares of the construction company's stock valued at $8,938,000 after acquiring an additional 14,247 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Armstrong World Industries by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 28,478 shares of the construction company's stock valued at $4,025,000 after acquiring an additional 5,496 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Armstrong World Industries by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock valued at $125,444,000 after acquiring an additional 35,738 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Armstrong World Industries by 2.3% during the fourth quarter. Wells Fargo & Company MN now owns 245,766 shares of the construction company's stock valued at $34,734,000 after acquiring an additional 5,566 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

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.

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