Armstrong World Industries (NYSE:AWI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Armstrong World Industries, Inc. (NYSE:AWI) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $133.88 and traded as high as $143.46. Armstrong World Industries shares last traded at $140.13, with a volume of 183,040 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AWI. Truist Financial lifted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Loop Capital upped their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The business has a fifty day moving average price of $150.53 and a 200 day moving average price of $133.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last issued 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 company 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 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is currently 21.69%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AWI. Transcendent Capital Group LLC acquired a new stake in Armstrong World Industries in the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $31,000. Allspring Global Investments Holdings LLC lifted its stake in Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Armstrong World Industries during the third quarter worth approximately $47,000. Finally, UMB Bank n.a. grew its position in Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after buying an additional 153 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

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.