Vanguard Group Inc. Boosts Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Vanguard Group Inc. increased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,245,468 shares of the construction company’s stock after purchasing an additional 51,504 shares during the quarter. Vanguard Group Inc. owned approximately 9.61% of Armstrong World Industries worth $305,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Armstrong World Industries by 28.9% during the first quarter. American Century Companies Inc. now owns 8,825 shares of the construction company’s stock valued at $794,000 after buying an additional 1,980 shares during the period. HighTower Advisors LLC boosted its stake in Armstrong World Industries by 7.3% during the first quarter. HighTower Advisors LLC now owns 13,988 shares of the construction company’s stock worth $1,262,000 after acquiring an additional 950 shares in the last quarter. Private Advisor Group LLC grew its holdings in Armstrong World Industries by 7.5% in the first quarter. Private Advisor Group LLC now owns 3,949 shares of the construction company’s stock worth $355,000 after purchasing an additional 275 shares during the period. Bank of Montreal Can grew its holdings in Armstrong World Industries by 32.0% in the first quarter. Bank of Montreal Can now owns 29,164 shares of the construction company’s stock worth $2,723,000 after purchasing an additional 7,064 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Armstrong World Industries during the first quarter valued at approximately $178,000. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AWI. Truist Financial boosted their price target on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. The Goldman Sachs Group lifted their price target on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, UBS Group raised shares of Armstrong World Industries from a “sell” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $103.00 in a research report on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of “Hold” and an average price target of $98.29.

Armstrong World Industries Stock Performance

Shares of NYSE AWI opened at $124.35 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99. Armstrong World Industries, Inc. has a 12-month low of $62.03 and a 12-month high of $125.56. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. The firm has a 50 day moving average of $112.66 and a 200 day moving average of $93.61.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.04 by $0.18. The firm had revenue of $312.30 million during the quarter, compared to analyst estimates of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. Armstrong World Industries’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. On average, research analysts anticipate that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.90%. Armstrong World Industries’s payout ratio is currently 22.40%.

Armstrong World Industries 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.