Alberta Investment Management Corp Acquires New Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Alberta Investment Management Corp acquired a new stake in Armstrong World Industries, purchasing 26,100 shares valued at approximately $3.68 million, representing about 0.06% of the company.
• Research analysts have rated Armstrong World Industries with a consensus of "Moderate Buy," with target prices ranging from $178.00 to $200.00.
• The company announced a quarterly dividend of $0.308, translating to an annual yield of 0.7%, with the ex-dividend date set for August 7th.

Alberta Investment Management Corp acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,100 shares of the construction company's stock, valued at approximately $3,677,000. Alberta Investment Management Corp owned about 0.06% of Armstrong World Industries at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. TradeLink Capital LLC purchased a new position in Armstrong World Industries in the first quarter valued at approximately $301,000. Vestcor Inc purchased a new position in Armstrong World Industries in the first quarter valued at approximately $434,000. Mackenzie Financial Corp lifted its position in shares of Armstrong World Industries by 9.5% during the first quarter. Mackenzie Financial Corp now owns 4,074 shares of the construction company's stock worth $574,000 after acquiring an additional 352 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Armstrong World Industries by 3.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,809 shares of the construction company's stock worth $1,523,000 after acquiring an additional 321 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Armstrong World Industries by 6.8% during the first quarter. Pacer Advisors Inc. now owns 2,156 shares of the construction company's stock worth $304,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AWI shares. Truist Financial set a $195.00 target price on Armstrong World Industries and gave the stock a "buy" rating in a research report on Wednesday. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday. Wall Street Zen upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 target price on the stock. Finally, UBS Group restated a "neutral" rating and set a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Trading Up 0.1%

Shares of AWI stock opened at $188.34 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.61. Armstrong World Industries, Inc. has a 52-week low of $117.92 and a 52-week high of $191.74. The company has a market capitalization of $8.15 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. The business's fifty day moving average is $162.54 and its 200 day moving average is $151.72.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $404.05 million. During the same quarter last year, the business posted $1.62 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

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

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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