Global Alpha Capital Management Ltd. Takes $21.30 Million Position in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Global Alpha Capital Management Ltd. acquired 151,200 shares of Armstrong World Industries, valued at approximately $21.3 million, making it the company's 29th largest holding.
• Armstrong World Industries reported a quarterly earnings per share (EPS) of $2.09, exceeding analyst expectations of $1.75, and achieved a 16.3% revenue increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.308, with an annualized dividend yield of 0.7%, and a dividend payout ratio of 18.20%.

Global Alpha Capital Management Ltd. bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 151,200 shares of the construction company's stock, valued at approximately $21,301,000. Armstrong World Industries accounts for about 1.6% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 29th biggest holding. Global Alpha Capital Management Ltd. owned about 0.35% of Armstrong World Industries as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its position in Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock valued at $83,000 after buying an additional 170 shares in the last quarter. CenterBook Partners LP increased its holdings in Armstrong World Industries by 63.2% in the first quarter. CenterBook Partners LP now owns 7,110 shares of the construction company's stock worth $1,002,000 after buying an additional 2,753 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in shares of Armstrong World Industries by 28.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 3,422 shares of the construction company's stock worth $482,000 after buying an additional 756 shares during the period. Argent Trust Co boosted its position in shares of Armstrong World Industries by 34.7% in the first quarter. Argent Trust Co now owns 4,488 shares of the construction company's stock valued at $632,000 after acquiring an additional 1,157 shares during the period. Finally, R Squared Ltd bought a new position in Armstrong World Industries in the first quarter worth $234,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on AWI. UBS Group reiterated a "neutral" rating and set a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Bank of America boosted their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the company a "hold" rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Stock Performance

Armstrong World Industries stock traded up $1.60 during mid-day trading on Wednesday, reaching $195.73. 285,233 shares of the company's stock were exchanged, compared to its average volume of 323,166. The business's fifty day simple moving average is $167.39 and its 200 day simple moving average is $153.67. The firm has a market capitalization of $8.47 billion, a PE ratio of 28.96, a P/E/G ratio of 2.08 and a beta of 1.43. Armstrong World Industries, Inc. has a one year low of $118.14 and a one year high of $197.04. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The company had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. During the same period in the previous year, the business earned $1.62 earnings per share. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.308 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's dividend payout ratio is 18.20%.

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.