Armstrong World Industries (NYSE:AWI) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Armstrong World Industries, Inc. (NYSE:AWI)’s share price 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 trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AWI shares. Truist Financial lifted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price 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 research report on Wednesday, October 30th. Finally, Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.19 billion, a P/E ratio of 25.06, a PEG ratio of 2.01 and a beta of 1.18. The stock has a fifty day moving average of $150.65 and a 200-day moving average of $134.08.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $1.60 EPS. Equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.87%. Armstrong World Industries’s payout ratio is presently 21.69%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AWI. Transcendent Capital Group LLC acquired a new position in Armstrong World Industries in the third quarter valued at about $26,000. V Square Quantitative Management LLC bought a new position in Armstrong World Industries during the 3rd quarter worth approximately $31,000. Allspring Global Investments Holdings LLC grew its holdings 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 period. Point72 DIFC Ltd bought a new stake in Armstrong World Industries in the third quarter valued at approximately $47,000. Finally, UMB Bank n.a. increased its stake 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 valued at $58,000 after purchasing an additional 153 shares in the last quarter. 98.93% of the stock is currently owned by 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.