Armstrong World Industries (NYSE:AWI) Sets New 1-Year High Following Strong Earnings

Armstrong World Industries, Inc. (NYSE:AWI) shares reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $177.00 and last traded at $176.61, with a volume of 126393 shares trading hands. The stock had previously closed at $168.82.

The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. During the same quarter in the prior year, the business posted $1.62 earnings per share. Armstrong World Industries’s revenue for the quarter was up 16.3% compared to the same quarter last year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors 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 yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 7th. Armstrong World Industries’s dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

Several brokerages recently commented on AWI. Truist Financial upped their price target on shares of Armstrong World Industries from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group upped their price target on shares of Armstrong World Industries from $158.00 to $178.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America upped their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 price objective for the company. Finally, Evercore ISI increased their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of “Moderate Buy” and an average price target of $177.13.

Institutional Investors Weigh In On Armstrong World Industries

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in Armstrong World Industries by 113.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company’s stock valued at $672,000 after buying an additional 2,538 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in Armstrong World Industries by 194.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company’s stock valued at $683,000 after buying an additional 3,200 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Armstrong World Industries in the 4th quarter valued at about $2,326,000. Golden State Wealth Management LLC boosted its position in Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock valued at $39,000 after buying an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Armstrong World Industries by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock valued at $283,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 3.0%

The company has a current ratio of 1.61, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $161.20 and its two-hundred day simple moving average is $151.08. The company 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.

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.