AlTi Global Inc. Makes New $3.34 Million Investment in Armstrong World Industries, Inc. $AWI

Key Points

• AlTi Global Inc. made a new investment of $3.34 million in Armstrong World Industries, purchasing over 20,000 shares during the second quarter.
• Armstrong World Industries recently declared an increased quarterly dividend of $0.339 per share, reflecting a rise from the previous dividend of $0.31.
• The company's current consensus rating among analysts is "Moderate Buy" with a target price of $202.25, following various rating adjustments by different research firms.

AlTi Global Inc. purchased a new position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,538 shares of the construction company's stock, valued at approximately $3,336,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AWI. Quantbot Technologies LP purchased a new position in shares of Armstrong World Industries during the 1st quarter valued at $2,508,000. Versor Investments LP bought a new stake in Armstrong World Industries during the first quarter valued at about $596,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Armstrong World Industries by 113.6% during the first 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 during the period. Andina Capital Management LLC acquired a new position in shares of Armstrong World Industries during the first quarter valued at about $455,000. Finally, Golden State Wealth Management LLC raised its position in shares of Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after buying an additional 140 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research cut Armstrong World Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, October 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Armstrong World Industries in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. Finally, Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. One 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. According to MarketBeat, Armstrong World Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.25.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $203.14 on Friday. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.02 and a beta of 1.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $196.59 and a 200 day simple moving average of $171.51. Armstrong World Industries, Inc. has a one year low of $122.37 and a one year high of $205.97.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $325.00 million during the quarter. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be given a dividend of $0.339 per share. The ex-dividend date of this dividend is Thursday, November 6th. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. Armstrong World Industries's payout ratio is 18.20%.

Armstrong World Industries 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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