Armstrong World Industries (NYSE:AWI) Sets New 1-Year High - Here's What Happened

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)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $192.00 and last traded at $189.82, with a volume of 4628 shares trading hands. The stock had previously closed at $190.56.

Wall Street Analysts Forecast Growth

AWI has been the subject of several research analyst reports. Evercore ISI boosted their target price on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. Bank of America upped their price target on shares of 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 target on shares of Armstrong World Industries and gave the stock a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective on the stock. Finally, UBS Group restated a "neutral" rating and set a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries has a consensus rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Stock Up 0.7%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The firm's 50 day moving average price is $165.90 and its two-hundred day moving average price is $153.11. The company has a market cap of $8.20 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43.

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

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Creative Planning lifted its position in Armstrong World Industries by 2.0% in the 2nd quarter. Creative Planning now owns 17,925 shares of the construction company's stock worth $2,912,000 after buying an additional 349 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Armstrong World Industries by 6.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,149 shares of the construction company's stock valued at $1,811,000 after acquiring an additional 718 shares during the period. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Armstrong World Industries by 4.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 16,484 shares of the construction company's stock worth $2,678,000 after acquiring an additional 737 shares in the last quarter. Geode Capital Management LLC boosted its stake in Armstrong World Industries by 0.8% during the second quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company's stock worth $153,248,000 after buying an additional 7,378 shares during the period. Finally, Wealth Alliance LLC grew its holdings in shares of Armstrong World Industries by 2.5% in the second quarter. Wealth Alliance LLC now owns 2,339 shares of the construction company's stock worth $380,000 after purchasing an additional 56 shares during the last quarter. 98.93% of the stock is currently 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.