AlphaQuest LLC Increases Stake in Armstrong World Industries, Inc. $AWI

Key Points

• AlphaQuest LLC significantly increased its stake in Armstrong World Industries by 591.4% during the first quarter, now holding 13,822 shares worth approximately $1.95 million.
• Armstrong World Industries reported earnings of $2.09 per share for the latest quarter, exceeding analyst estimates of $1.75, with revenue rising by 16.3% year-over-year.
• The company has announced a quarterly dividend of $0.308 per share, resulting in an annualized yield of 0.6% and a dividend payout ratio of 18.20%.

AlphaQuest LLC lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 591.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,822 shares of the construction company's stock after purchasing an additional 11,823 shares during the quarter. AlphaQuest LLC's holdings in Armstrong World Industries were worth $1,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC boosted its holdings in Armstrong World Industries by 5.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock worth $221,000 after acquiring an additional 84 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Armstrong World Industries by 1.8% in the 4th quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock worth $740,000 after purchasing an additional 93 shares in the last quarter. Bridges Investment Management Inc. lifted its holdings in shares of Armstrong World Industries by 3.4% in the 1st quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock worth $426,000 after purchasing an additional 100 shares in the last quarter. Algert Global LLC increased its stake in Armstrong World Industries by 1.7% during the 1st quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock valued at $948,000 after purchasing an additional 110 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Armstrong World Industries by 3.2% during the 1st quarter. Cetera Investment Advisers now owns 4,136 shares of the construction company's stock valued at $583,000 after purchasing an additional 127 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of analyst reports. Loop Capital set a $190.00 price objective on shares of Armstrong World Industries and gave the company a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Bank of America increased their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. UBS Group restated a "neutral" rating and issued a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Finally, Evercore ISI upped their price target on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $177.13.

Armstrong World Industries Stock Performance

NYSE:AWI traded up $0.05 during trading on Wednesday, reaching $197.61. The company's stock had a trading volume of 344,390 shares, compared to its average volume of 322,540. Armstrong World Industries, Inc. has a 12 month low of $118.14 and a 12 month high of $198.64. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43. The firm has a 50 day moving average of $175.71 and a 200-day moving average of $156.77. 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 issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The company had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. During the same period in the previous year, the firm earned $1.62 EPS. The firm's quarterly revenue was up 16.3% on a year-over-year basis. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. Research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.308 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. Armstrong World Industries's dividend payout ratio (DPR) is presently 18.20%.

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.