Armstrong World Industries (NYSE:AWI) Sets New 52-Week High – Should You Buy?

Shares of Armstrong World Industries, Inc. (NYSE:AWI) reached a new 52-week high during trading on Friday . The stock traded as high as $135.98 and last traded at $134.52, with a volume of 48718 shares trading hands. The stock had previously closed at $133.87.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AWI. Truist Financial boosted their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI raised their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and an average price target of $135.75.

Armstrong World Industries Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The company has a market capitalization of $5.84 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.88 and a beta of 1.14. The firm’s fifty day moving average is $126.03 and its 200 day moving average is $120.33.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, analysts predict that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.28 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.84%. Armstrong World Industries’s payout ratio is 21.05%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. bought a new position in Armstrong World Industries in the 1st quarter worth about $2,081,000. Assenagon Asset Management S.A. increased its holdings in Armstrong World Industries by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after purchasing an additional 33,290 shares during the period. Los Angeles Capital Management LLC bought a new stake in Armstrong World Industries during the 1st quarter valued at $39,183,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Armstrong World Industries in the 1st quarter worth $3,097,000. Finally, Duality Advisers LP bought a new position in shares of Armstrong World Industries during the 1st quarter worth $1,150,000. 98.93% of the stock is currently owned by 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.