Invesco Ltd. boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 680,622 shares of the construction company's stock after buying an additional 172,779 shares during the period. Invesco Ltd. owned about 1.57% of Armstrong World Industries worth $95,886,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Armstrong World Industries by 113.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock worth $672,000 after purchasing an additional 2,538 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Armstrong World Industries by 194.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock valued at $683,000 after acquiring an additional 3,200 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Armstrong World Industries in the 4th quarter valued at approximately $2,326,000. Golden State Wealth Management LLC raised its stake in shares of Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after acquiring an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Armstrong World Industries by 9.2% in 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. Hedge funds and other institutional investors own 98.93% of the company's stock.
Armstrong World Industries Trading Down 0.4%
Shares of AWI opened at $193.46 on Friday. The stock has a fifty day moving average price of $169.77 and a two-hundred day moving average price of $154.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. Armstrong World Industries, Inc. has a 52-week low of $118.14 and a 52-week high of $197.04. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.13 and a beta of 1.43.
Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The firm had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same quarter in the previous year, the company posted $1.62 EPS. The business's revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.
Armstrong World Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.308 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.23 annualized dividend and a yield of 0.6%. Armstrong World Industries's payout ratio is presently 18.20%.
Wall Street Analysts Forecast Growth
AWI has been the topic of a number of research analyst reports. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the company a "hold" rating in a report on Wednesday, July 30th. Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group reissued a "neutral" rating and set a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Finally, Evercore ISI raised their target price 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.13.
Check Out Our Latest Stock Report 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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