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Armstrong World Industries (NYSE:AWI) Reaches New 52-Week High Following Better-Than-Expected Earnings

Armstrong World Industries logo with Construction background

Key Points

  • Armstrong World Industries (NYSE:AWI) achieved a new 52-week high of $177.00 following a quarterly earnings report that exceeded expectations with an EPS of $2.09 compared to a consensus estimate of $1.74.
  • The company announced a quarterly dividend of $0.308 per share, with a dividend yield of 0.69% and a payout ratio of 19.68%.
  • Wall Street analysts upgraded Armstrong World Industries to a "buy" rating, with a target price set as high as $200.00 by JPMorgan Chase & Co., reflecting confidence in the company's growth potential.
  • Five stocks we like better than Armstrong World Industries.
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Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $177.00 and last traded at $176.61, with a volume of 126393 shares. The stock had previously closed at $168.82.

The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.34. The firm had revenue of $424.60 million for 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 company's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 19.68%.

Analyst Ratings Changes

AWI has been the topic of several analyst reports. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. initiated 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 upped their price objective on Armstrong World Industries from $158.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday. Evercore ISI upped their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday. Finally, Bank of America upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.

View Our Latest Stock Analysis on AWI

Institutional Investors Weigh In On Armstrong World Industries

Several hedge funds have recently made changes to their positions in AWI. Golden State Wealth Management LLC lifted its stake in shares of Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after purchasing an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Armstrong World Industries during the 1st quarter worth $54,000. Parallel Advisors LLC lifted its stake in shares of Armstrong World Industries by 28.9% during the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock worth $75,000 after purchasing an additional 103 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Armstrong World Industries by 40.5% during the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after purchasing an additional 170 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Up 3.0%

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.61. The stock has a market capitalization of $8.26 billion, a PE ratio of 28.15, a PEG ratio of 2.26 and a beta of 1.37. The business has a 50 day moving average of $161.20 and a two-hundred day moving average of $151.08.

About Armstrong World Industries

(Get Free Report)

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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