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Aigen Investment Management LP Acquires Shares of 4,192 Armstrong World Industries, Inc. (NYSE:AWI)

Armstrong World Industries logo with Construction background

Key Points

  • Aigen Investment Management LP has acquired a new stake in Armstrong World Industries, buying 4,192 shares valued at approximately $591,000 as reported in a Form 13F filing.
  • Armstrong World Industries reported a Q2 EPS of $2.09, exceeding estimates of $1.75, with revenue of $424.60 million, up 16.3% year-over-year.
  • The company announced a quarterly dividend of $0.308 per share, representing a 0.6% yield, to be paid on August 21st, with the ex-dividend date set for August 7th.
  • Looking to export and analyze Armstrong World Industries data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Aigen Investment Management LP purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,192 shares of the construction company's stock, valued at approximately $591,000.

A number of other hedge funds have also recently bought and sold shares of AWI. Golden State Wealth Management LLC boosted its holdings in Armstrong World Industries by 100.0% in 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 period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after acquiring an additional 287 shares during the period. Versant Capital Management Inc bought a new position in shares of Armstrong World Industries during the 1st quarter worth about $54,000. Covestor Ltd lifted its holdings in shares of Armstrong World Industries by 40.5% during the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after acquiring an additional 170 shares during the period. Finally, Archer Investment Corp bought a new position in shares of Armstrong World Industries during the 1st quarter worth about $113,000. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Down 0.4%

Shares of AWI traded down $0.70 during trading hours on Friday, hitting $193.46. The company had a trading volume of 402,540 shares, compared to its average volume of 476,940. Armstrong World Industries, Inc. has a 52-week low of $118.14 and a 52-week high of $197.04. The firm has a fifty day moving average price of $169.77 and a 200-day moving average price of $154.58. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The firm's revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. On average, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.308 per share. 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 0.6%. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AWI shares. Evercore ISI raised their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. UBS Group reissued a "neutral" rating and set a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective on the stock. Loop Capital set a $190.00 price objective on shares of Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Bank of America boosted their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.13.

Check Out Our Latest Analysis on AWI

Armstrong World Industries Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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