151,200 Shares in Armstrong World Industries, Inc. (NYSE:AWI) Purchased by Global Alpha Capital Management Ltd.

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. purchased a new position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 151,200 shares of the construction company's stock, valued at approximately $21,301,000. Armstrong World Industries makes up 1.6% of Global Alpha Capital Management Ltd.'s 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 and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its position in Armstrong World Industries by 140.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock valued at $94,126,000 after purchasing an additional 389,000 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Armstrong World Industries by 267.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after purchasing an additional 387,537 shares during the last quarter. GAMMA Investing LLC grew its position in Armstrong World Industries by 15,282.7% during the 1st quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company's stock valued at $398,530,000 after purchasing an additional 281,048 shares during the last quarter. Invesco Ltd. grew its position in Armstrong World Industries by 25.4% during the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock valued at $71,773,000 after purchasing an additional 102,895 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Armstrong World Industries during the 4th quarter valued at about $8,375,000. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Performance

Shares of NYSE AWI opened at $188.16 on Friday. The firm's 50-day moving average price is $165.90 and its 200-day moving average price is $153.08. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.14 billion, a PE ratio of 27.83, a PEG ratio of 2.06 and a beta of 1.43. Armstrong World Industries, Inc. has a 52-week low of $117.92 and a 52-week high of $192.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. The firm had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. As a group, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a $0.308 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.7%. Armstrong World Industries's dividend payout ratio (DPR) is presently 18.20%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial set a $195.00 price objective on shares of Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective on the stock. Bank of America increased their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Loop Capital set a $190.00 price objective on shares of Armstrong World Industries and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Evercore ISI increased their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $177.13.

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.

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