Armstrong World Industries (NYSE:AWI) Reaches New 12-Month Low at $63.30

Posted by Stephan Jacobs on May 26th, 2023

Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) shares reached a new 52-week low on Wednesday . The company traded as low as $63.30 and last traded at $63.70, with a volume of 613071 shares traded. The stock had previously closed at $65.29.

Wall Street Analyst Weigh In

AWI has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Credit Suisse Group reissued an “outperform” rating and issued a $100.00 target price on shares of Armstrong World Industries in a report on Wednesday, February 22nd. Truist Financial lowered their target price on shares of Armstrong World Industries from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Bank of America lowered their target price on shares of Armstrong World Industries from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Armstrong World Industries from $77.00 to $78.00 in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.63.

Armstrong World Industries Stock Down 0.6 %

The stock has a market capitalization of $2.83 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.56 and a beta of 1.11. The company has a current ratio of 2.18, a quick ratio of 1.49 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average is $68.09 and its 200 day moving average is $72.51.

Armstrong World Industries (NYSE:AWI – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Armstrong World Industries had a net margin of 16.32% and a return on equity of 41.94%. The company had revenue of $310.20 million during the quarter, compared to analyst estimates of $310.86 million. During the same period last year, the firm posted $1.02 EPS. Armstrong World Industries’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Armstrong World Industries, Inc. will post 4.86 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were paid a dividend of $0.254 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.62%. Armstrong World Industries’s payout ratio is 22.82%.

Institutional Investors Weigh In On Armstrong World Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG grew its stake in Armstrong World Industries by 2.0% in the 2nd quarter. UBS Group AG now owns 6,401 shares of the construction company’s stock valued at $480,000 after acquiring an additional 123 shares during the period. Captrust Financial Advisors grew its stake in Armstrong World Industries by 4.3% in the 2nd quarter. Captrust Financial Advisors now owns 3,317 shares of the construction company’s stock valued at $249,000 after acquiring an additional 136 shares during the period. Cornercap Investment Counsel Inc. boosted its stake in Armstrong World Industries by 2.3% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 7,183 shares of the construction company’s stock worth $512,000 after purchasing an additional 164 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Armstrong World Industries by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 42,673 shares of the construction company’s stock worth $2,927,000 after purchasing an additional 173 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Armstrong World Industries by 4.5% during the 1st quarter. Xponance Inc. now owns 4,317 shares of the construction company’s stock worth $308,000 after purchasing an additional 184 shares during the last quarter.

Armstrong World Industries Company Profile

(Get Rating)

Armstrong World Industries, Inc engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Mineral Fiber, Architectural Specialties, and Unallocated Corporate. The Mineral Fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings.