Victory Capital Management Inc. Raises Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Victory Capital Management Inc. has increased its stake in Armstrong World Industries by 110.1%, now owning 55,585 shares worth $7,831,000.
• Analysts have varied outlooks on Armstrong World Industries, with price targets ranging from $158 to $200, and a current consensus rating of "Moderate Buy."
• Armstrong World Industries announced a quarterly dividend of $0.308, reflecting an annual yield of 0.73% and a payout ratio of 19.68%.

Victory Capital Management Inc. lifted its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 110.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,585 shares of the construction company's stock after buying an additional 29,131 shares during the period. Victory Capital Management Inc. owned about 0.13% of Armstrong World Industries worth $7,831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Armstrong World Industries by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after buying an additional 34,579 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Armstrong World Industries by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after buying an additional 19,787 shares during the last quarter. Geode Capital Management LLC increased its holdings in Armstrong World Industries by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock valued at $125,444,000 after buying an additional 35,738 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Armstrong World Industries by 140.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock valued at $94,126,000 after buying an additional 389,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in Armstrong World Industries by 267.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after buying an additional 387,537 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Trading Up 0.6%

Shares of Armstrong World Industries stock traded up $1.02 during trading on Friday, hitting $168.67. The stock had a trading volume of 256,312 shares, compared to its average volume of 276,739. The firm's fifty day simple moving average is $159.83 and its 200-day simple moving average is $150.33. The stock has a market cap of $7.33 billion, a PE ratio of 26.99, a PEG ratio of 2.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. Armstrong World Industries, Inc. has a 12 month low of $117.92 and a 12 month high of $170.85.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. The firm had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The business's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. As a group, sell-side 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 will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, August 7th. Armstrong World Industries's dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of analyst reports. Loop Capital reduced their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective for the company. Bank of America increased their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Saturday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.88.

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.