Geode Capital Management LLC Has $111.95 Million Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Geode Capital Management LLC raised its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 851,620 shares of the construction company’s stock after purchasing an additional 34,028 shares during the quarter. Geode Capital Management LLC owned approximately 1.95% of Armstrong World Industries worth $111,954,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AWI. Transcendent Capital Group LLC bought a new stake in shares of Armstrong World Industries in the 3rd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in Armstrong World Industries in the third quarter valued at $31,000. Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 89 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Armstrong World Industries during the 3rd quarter worth about $47,000. Finally, First Horizon Advisors Inc. raised its position in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AWI shares. UBS Group raised their target price 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. Truist Financial lifted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. 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 note on Wednesday, October 30th. Loop Capital lifted 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 note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Down 1.5 %

Shares of NYSE:AWI opened at $150.61 on Wednesday. Armstrong World Industries, Inc. has a 1 year low of $95.24 and a 1 year high of $164.40. The company has a market capitalization of $6.56 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The business has a fifty day moving average price of $149.46 and a two-hundred day moving average price of $131.76. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.82%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.69%.

About Armstrong World Industries

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.