Armstrong World Industries (NYSE:AWI) Sets New 12-Month High - Should You Buy?

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $169.76 and last traded at $169.54, with a volume of 15729 shares traded. The stock had previously closed at $168.13.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Loop Capital reduced their price objective 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. Bank of America raised their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. assumed coverage on 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $162.88.

Armstrong World Industries Stock Down 0.9%

The stock has a 50 day moving average price of $157.44 and a 200 day moving average price of $148.68. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. 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 announced its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 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 firm had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. During the same period last year, the firm posted $1.38 earnings per share. The business's revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders 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 0.73%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's payout ratio is 19.68%.

Institutional Trading of Armstrong World Industries

Hedge funds have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC raised its position in shares of Armstrong World Industries by 5.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock worth $221,000 after acquiring an additional 84 shares during the last quarter. Tidal Investments LLC raised its position in shares of Armstrong World Industries by 1.8% during the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock worth $740,000 after acquiring an additional 93 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of Armstrong World Industries by 3.4% during the first quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock worth $426,000 after acquiring an additional 100 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Armstrong World Industries by 28.9% during the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock worth $75,000 after acquiring an additional 103 shares during the last quarter. Finally, Algert Global LLC raised its position in shares of Armstrong World Industries by 1.7% during the first quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock worth $948,000 after acquiring an additional 110 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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.