Smith Group Asset Management LLC Acquires New Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Smith Group Asset Management LLC purchased a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,940 shares of the construction company's stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC increased its position in shares of Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after purchasing an additional 140 shares during the last quarter. Twin Tree Management LP bought a new position in Armstrong World Industries during the fourth quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB increased its holdings in Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after buying an additional 287 shares during the last quarter. Versant Capital Management Inc bought a new stake in Armstrong World Industries in the first quarter worth about $54,000. Finally, Farther Finance Advisors LLC boosted its stake in Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after acquiring an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock traded up $0.47 during trading hours on Wednesday, reaching $166.07. The company had a trading volume of 210,169 shares, compared to its average volume of 276,298. The firm has a market cap of $7.21 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $169.32. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The business has a fifty day simple moving average of $153.98 and a 200 day simple moving average of $147.56.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The business had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same quarter last year, the company earned $1.38 EPS. The firm's revenue was up 17.3% compared to the same quarter last year. On average, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries's dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AWI. Wall Street Zen lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Bank of America increased their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Loop Capital lowered their target price on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Armstrong World Industries has a consensus rating of "Hold" and an average target price of $162.88.

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.