Armstrong World Industries (NYSE:AWI) Hits New 52-Week High at $133.60

Armstrong World Industries, Inc. (NYSE:AWI)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $133.60 and last traded at $132.31, with a volume of 460005 shares. The stock had previously closed at $130.75.

Analysts Set New Price Targets

A number of analysts have recently commented on AWI shares. Evercore ISI boosted their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 1st. UBS Group increased their target price on Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.00.

Armstrong World Industries Trading Up 1.1 %

The stock has a market capitalization of $5.78 billion, a PE ratio of 24.58, a P/E/G ratio of 1.98 and a beta of 1.14. The company’s 50 day moving average price is $116.73 and its two-hundred day moving average price is $114.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.22.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The business had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $319.44 million. During the same period in the previous year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts expect that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 8th. Armstrong World Industries’s payout ratio is currently 21.05%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital International Investors raised its stake in Armstrong World Industries by 1.3% during the fourth quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock worth $491,551,000 after purchasing an additional 63,618 shares during the period. Vanguard Group Inc. raised its position in shares of Armstrong World Industries by 12.2% during the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after buying an additional 517,699 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Armstrong World Industries by 56.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after acquiring an additional 569,824 shares during the last quarter. Cooke & Bieler LP increased its stake in Armstrong World Industries by 10.2% during the fourth quarter. Cooke & Bieler LP now owns 1,316,653 shares of the construction company’s stock worth $129,453,000 after acquiring an additional 121,586 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Armstrong World Industries by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 1,134,367 shares of the construction company’s stock valued at $140,911,000 after purchasing an additional 13,380 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.