Armstrong World Industries (NYSE:AWI) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries (NYSE:AWI) in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $200.00 target price on the construction company’s stock.

A number of other analysts have also weighed in on AWI. The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Truist Financial lifted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Bank of America boosted 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. Loop Capital decreased their price target on Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $162.88.

Armstrong World Industries Trading Up 1.3%

Armstrong World Industries stock opened at $158.36 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.60. The stock has a 50-day simple moving average of $150.42 and a 200 day simple moving average of $147.20. The stock has a market capitalization of $6.88 billion, a P/E ratio of 25.34, a PEG ratio of 1.97 and a beta of 1.38. Armstrong World Industries has a 52 week low of $110.68 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. The business had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. Armstrong World Industries’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 earnings per share. Analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.308 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a yield of 0.78%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.68%.

Institutional Trading of Armstrong World Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its stake 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 worth $39,000 after acquiring an additional 140 shares during the last quarter. Twin Tree Management LP purchased a new stake in Armstrong World Industries in the fourth quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 valued at $47,000 after purchasing an additional 287 shares during the last quarter. Versant Capital Management Inc bought a new stake in Armstrong World Industries in the first quarter worth $54,000. Finally, Farther Finance Advisors LLC boosted its position in Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock valued at $60,000 after buying an additional 202 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.