Kayne Anderson Rudnick Investment Management LLC Raises Stock Holdings in Armstrong World Industries, Inc. $AWI

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in Armstrong World Industries by 0.7% during the first quarter, owning approximately 3.08% of the company, valued at $188.6 million.
• Armstrong World Industries reported a $2.09 EPS for the most recent quarter, exceeding the consensus estimate of $1.75, with a year-over-year revenue increase of 16.3%.
• The company announced a quarterly dividend of $0.308, translating to an annual yield of 0.6% and a payout ratio of 18.20%.

Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,338,833 shares of the construction company's stock after purchasing an additional 8,762 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 3.08% of Armstrong World Industries worth $188,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AWI. Golden State Wealth Management LLC raised its holdings in 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 worth $39,000 after purchasing an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares during the last quarter. Versant Capital Management Inc acquired a new position in Armstrong World Industries during the first quarter worth $54,000. Covestor Ltd raised its holdings in Armstrong World Industries by 40.5% during the first quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after purchasing an additional 170 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Armstrong World Industries during the first quarter worth $91,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Trading Down 1.7%

NYSE:AWI traded down $3.27 on Friday, hitting $194.31. 68,034 shares of the stock were exchanged, compared to its average volume of 321,952. The stock has a market cap of $8.41 billion, a PE ratio of 28.74, a PEG ratio of 2.17 and a beta of 1.43. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $177.56 and a 200-day moving average of $157.36. Armstrong World Industries, Inc. has a fifty-two week low of $118.14 and a fifty-two week high of $198.64.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. The company had revenue of $424.60 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, equities analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a $0.308 dividend. The ex-dividend date of this dividend 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 is presently 18.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group restated a "neutral" rating and issued a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Evercore ISI upped their price objective on 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 objective on Armstrong World Industries and gave the company a "hold" rating in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $177.13.

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.