Alberta Investment Management Corp purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,100 shares of the construction company's stock, valued at approximately $3,677,000. Alberta Investment Management Corp owned 0.06% of Armstrong World Industries at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Burgundy Asset Management Ltd. increased its position in shares of Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after purchasing an additional 19,787 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Armstrong World Industries by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after acquiring an additional 35,738 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Armstrong World Industries by 140.4% in 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 in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of 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. Finally, Invesco Ltd. raised its position in Armstrong World Industries by 25.4% in the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after purchasing an additional 102,895 shares during the period. 98.93% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Evercore ISI increased their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price on the stock. Bank of America lifted their price target 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. Finally, Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $177.13.
View Our Latest Stock Analysis on AWI
Armstrong World Industries Price Performance
Shares of AWI stock traded down $2.61 during mid-day trading on Thursday, hitting $187.95. 327,803 shares of the stock were exchanged, compared to its average volume of 318,898. The company has a market cap of $8.13 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.10 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. 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 firm has a fifty day moving average of $164.60 and a 200 day moving average of $152.56.
Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.75 by $0.34. The firm 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. Research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.
Armstrong World Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid 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 payout ratio is presently 18.20%.
About Armstrong World Industries
(
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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