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Kayne Anderson Rudnick Investment Management LLC Has $188.62 Million Stock Holdings in Armstrong World Industries, Inc. $AWI

Armstrong World Industries logo with Construction background

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%.
  • Looking to export and analyze Armstrong World Industries data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Kayne Anderson Rudnick Investment Management LLC boosted its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,338,833 shares of the construction company's stock after purchasing an additional 8,762 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 3.08% of Armstrong World Industries worth $188,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AWI. Alyeska Investment Group L.P. lifted its stake in Armstrong World Industries by 267.1% in 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. GAMMA Investing LLC lifted its stake in Armstrong World Industries by 15,282.7% in the 1st quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company's stock valued at $398,530,000 after purchasing an additional 281,048 shares during the last quarter. Invesco Ltd. raised its stake in shares of Armstrong World Industries by 34.0% during the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock valued at $95,886,000 after acquiring an additional 172,779 shares during the last quarter. Nuveen LLC bought a new position in shares of Armstrong World Industries during the first quarter valued at $23,449,000. Finally, Global Alpha Capital Management Ltd. bought a new position in shares of Armstrong World Industries during the first quarter valued at $21,301,000. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Trading Up 0.0%

NYSE AWI traded up $0.05 during mid-day trading on Wednesday, reaching $197.61. 344,491 shares of the stock were exchanged, compared to its average volume of 406,643. Armstrong World Industries, Inc. has a one year low of $118.14 and a one year high of $198.64. The stock has a 50 day simple moving average of $176.64 and a 200-day simple moving average of $157.05. The stock has a market cap of $8.55 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.17 and a beta of 1.43. 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 announced its 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 business had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same quarter last year, the firm earned $1.62 earnings per share. Armstrong World Industries'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. On average, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial set a $195.00 price target on shares of Armstrong World Industries and gave the company a "buy" rating in a research note on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. Bank of America raised 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 note on Thursday, May 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target for the company. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $177.13.

Check Out Our Latest Stock Analysis on Armstrong World Industries

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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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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