Armstrong World Industries (NYSE:AWI) Given New $144.00 Price Target at UBS Group

Armstrong World Industries (NYSE:AWI) had its price objective boosted by UBS Group from $136.00 to $144.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other research analysts have also issued research reports about the stock. Truist Financial raised their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI raised their price target on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Stock Performance

NYSE AWI opened at $140.33 on Wednesday. The firm’s fifty day moving average price is $131.30 and its two-hundred day moving average price is $122.40. The stock has a market cap of $6.14 billion, a PE ratio of 26.38, a PEG ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. Armstrong World Industries has a fifty-two week low of $74.37 and a fifty-two week high of $143.07.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data 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. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. Armstrong World Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. On average, equities analysts expect that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is 23.12%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Armstrong World Industries by 5.9% in the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock valued at $188,000 after buying an additional 79 shares during the period. US Bancorp DE lifted its position in shares of Armstrong World Industries by 13.9% during the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after acquiring an additional 82 shares during the period. Allspring Global Investments Holdings LLC boosted 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 worth $35,000 after acquiring an additional 89 shares in the last quarter. CWM LLC grew its holdings in Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after purchasing an additional 95 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Armstrong World Industries by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock valued at $2,491,000 after purchasing an additional 100 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.