AlphaQuest LLC lifted its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 58.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,854 shares of the construction company's stock after acquiring an additional 8,032 shares during the quarter. Armstrong World Industries makes up approximately 0.3% of AlphaQuest LLC's portfolio, making the stock its 14th biggest position. AlphaQuest LLC owned 0.05% of Armstrong World Industries worth $3,550,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of AWI. GAMMA Investing LLC boosted its holdings in shares of Armstrong World Industries by 9.2% during the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock valued at $283,000 after acquiring an additional 169 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Armstrong World Industries by 113.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after acquiring an additional 2,538 shares in the last quarter. Lecap Asset Management Ltd. boosted its holdings in shares of Armstrong World Industries by 178.5% during the 1st quarter. Lecap Asset Management Ltd. now owns 11,603 shares of the construction company's stock valued at $1,635,000 after acquiring an additional 7,437 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in 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 worth $39,000 after buying an additional 140 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in Armstrong World Industries during the 1st quarter worth about $892,000. Institutional investors and hedge funds own 98.93% of the company's stock.
Analysts Set New Price Targets
AWI has been the topic of several recent research reports. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Armstrong World Industries in a research report on Wednesday, October 8th. Bank of America lifted their price objective on Armstrong World Industries from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Evercore ISI lifted their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Finally, Vertical Research assumed coverage on Armstrong World Industries in a research report on Monday. They issued a "buy" rating and a $238.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.25.
Read Our Latest Research Report on Armstrong World Industries
Armstrong World Industries Stock Performance
Shares of Armstrong World Industries stock opened at $204.90 on Friday. Armstrong World Industries, Inc. has a one year low of $122.37 and a one year high of $205.97. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 2.02 and a beta of 1.45. The business has a 50-day simple moving average of $196.59 and a 200 day simple moving average of $171.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11.
Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Monday, November 6th. The construction company reported $1.36 EPS for the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The business had revenue of $325.00 million during the quarter. On average, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.
Armstrong World Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be issued a dividend of $0.339 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.31. Armstrong World Industries's dividend payout ratio is presently 18.20%.
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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