Armstrong World Industries (NYSE:AWI) Reaches New 12-Month High - Time to Buy?

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) shares 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 trading hands. The stock had previously closed at $168.13.

Analyst Ratings Changes

A number of brokerages have commented on AWI. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective on the stock. 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. Finally, Bank of America increased their price target 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. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $162.88.

Armstrong World Industries Price Performance

The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 2.11 and a beta of 1.37. The company has a 50 day simple moving average of $157.08 and a 200-day simple moving average of $148.47. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $382.70 million during the quarter, compared to analysts' expectations of $370.71 million. During the same quarter last year, the company earned $1.38 EPS. Armstrong World Industries's revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a $0.308 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.73%. Armstrong World Industries's payout ratio is 19.68%.

Institutional Investors Weigh In On Armstrong World Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Armstrong World Industries during the second quarter worth $289,000. Assenagon Asset Management S.A. increased its holdings in shares of Armstrong World Industries by 1,930.5% during the second quarter. Assenagon Asset Management S.A. now owns 114,498 shares of the construction company's stock worth $18,599,000 after buying an additional 108,859 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Armstrong World Industries by 21.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 27,400 shares of the construction company's stock worth $4,451,000 after purchasing an additional 4,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Armstrong World Industries by 120.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,509 shares of the construction company's stock worth $1,763,000 after purchasing an additional 5,736 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Armstrong World Industries in the second quarter worth $291,000. 98.93% of the stock is currently 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.