Brokerages Set Armstrong World Industries, Inc. (NYSE:AWI) PT at $140.83

Shares of Armstrong World Industries, Inc. (NYSE:AWI) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $140.83.

A number of research analysts recently commented on the stock. Truist Financial increased their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Loop Capital lifted their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Armstrong World Industries Trading Up 1.1 %

Shares of NYSE:AWI opened at $144.72 on Monday. Armstrong World Industries has a 52-week low of $95.24 and a 52-week high of $164.40. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.01 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock’s 50-day simple moving average is $150.22 and its two-hundred day simple moving average is $132.85.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same period in the prior year, the business posted $1.60 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Analysts expect that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.69%.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors have recently bought and sold shares of AWI. Jupiter Asset Management Ltd. boosted its stake in Armstrong World Industries by 1,369.3% during the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after buying an additional 229,378 shares during the period. Los Angeles Capital Management LLC increased its holdings in Armstrong World Industries by 46.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after purchasing an additional 145,133 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Armstrong World Industries by 35.0% in the 2nd quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after buying an additional 110,111 shares during the period. Squarepoint Ops LLC lifted its stake in Armstrong World Industries by 171.0% during the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after acquiring an additional 79,475 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Armstrong World Industries by 27.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after acquiring an additional 67,954 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.