Armstrong World Industries (NYSE:AWI) Sets New 1-Year High After Analyst Upgrade

Armstrong World Industries, Inc. (NYSE:AWI)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $205.00 to $220.00. Bank of America currently has a buy rating on the stock. Armstrong World Industries traded as high as $201.72 and last traded at $198.70, with a volume of 16892 shares traded. The stock had previously closed at $199.92.

Several other analysts have also weighed in on the stock. Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the company a “hold” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a research report on Saturday, September 27th. Wall Street Zen lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. UBS Group reiterated a “neutral” rating and set a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Finally, Evercore ISI lifted their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.75.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AWI. Norges Bank acquired a new position in Armstrong World Industries in the second quarter valued at about $84,412,000. Adage Capital Partners GP L.L.C. boosted its position in Armstrong World Industries by 121.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company’s stock valued at $119,718,000 after buying an additional 404,000 shares in the last quarter. AQR Capital Management LLC boosted its position in Armstrong World Industries by 118.6% in the second quarter. AQR Capital Management LLC now owns 543,009 shares of the construction company’s stock valued at $88,206,000 after buying an additional 294,646 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Armstrong World Industries by 131.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock worth $62,060,000 after acquiring an additional 250,133 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Armstrong World Industries by 34.0% in the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock worth $95,886,000 after acquiring an additional 172,779 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Performance

The company has a market capitalization of $8.52 billion, a P/E ratio of 29.13, a P/E/G ratio of 2.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $194.56 and its two-hundred day simple moving average is $166.79.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same period in the previous year, the firm posted $1.62 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. Armstrong World Industries’s payout ratio is currently 18.20%.

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.