Armstrong World Industries (AWI) Hits New 1-Year High at $89.63

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Shares of Armstrong World Industries Inc (NYSE:AWI) hit a new 52-week high on Tuesday . The stock traded as high as $89.63 and last traded at $89.40, with a volume of 225961 shares trading hands. The stock had previously closed at $87.77.

Several analysts recently weighed in on the stock. KeyCorp raised their target price on shares of Armstrong World Industries from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Nomura raised their target price on shares of Armstrong World Industries from $78.00 to $92.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. SunTrust Banks reaffirmed a “buy” rating and issued a $95.00 target price on shares of Armstrong World Industries in a report on Tuesday, April 30th. Zelman & Associates cut shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $83.01.

The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.20 and a beta of 1.85. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.15 and a current ratio of 1.27.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Armstrong World Industries had a net margin of 19.92% and a return on equity of 63.92%. The company had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $247.38 million. During the same quarter last year, the company earned $0.79 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts predict that Armstrong World Industries Inc will post 4.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.175 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.70 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries’s payout ratio is currently 19.13%.

In other Armstrong World Industries news, insider Valueact Capital Master Fund, sold 1,725,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $73.69, for a total transaction of $127,115,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stephen F. Mcnamara sold 7,778 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $87.26, for a total transaction of $678,708.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,259,188 shares of company stock worth $167,321,824. 1.94% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co grew its position in shares of Armstrong World Industries by 5.1% during the first quarter. Diversified Trust Co now owns 38,773 shares of the construction company’s stock worth $3,079,000 after acquiring an additional 1,879 shares during the last quarter. FMR LLC grew its position in shares of Armstrong World Industries by 77.9% during the first quarter. FMR LLC now owns 1,426,367 shares of the construction company’s stock worth $113,282,000 after acquiring an additional 624,611 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Armstrong World Industries by 14.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 915 shares of the construction company’s stock worth $75,000 after acquiring an additional 119 shares during the last quarter. One Wealth Advisors LLC purchased a new position in shares of Armstrong World Industries during the first quarter worth approximately $322,000. Finally, Morgan Stanley grew its position in shares of Armstrong World Industries by 17.1% during the first quarter. Morgan Stanley now owns 24,362 shares of the construction company’s stock worth $1,935,000 after acquiring an additional 3,562 shares during the last quarter. 99.47% of the stock is currently owned by institutional investors.

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About Armstrong World Industries (NYSE:AWI)

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

Further Reading: Buy-Side Analysts

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