Assenagon Asset Management S.A. Increases Holdings in Armstrong World Industries, Inc. $AWI

Key Points

• Assenagon Asset Management S.A. significantly increased its holdings in Armstrong World Industries by 1,930.5% during the second quarter, now owning approximately 114,498 shares valued at $18.6 million.
• Analysts have varying views on Armstrong World Industries, with recent price targets ranging from $178.00 to $230.00, indicating a consensus rating of Moderate Buy.
• Armstrong World Industries reported $2.09 EPS for the last quarter, exceeding estimates and demonstrating a year-over-year revenue increase of 16.3%.

Assenagon Asset Management S.A. increased its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1,930.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,498 shares of the construction company's stock after purchasing an additional 108,859 shares during the quarter. Assenagon Asset Management S.A. owned about 0.26% of Armstrong World Industries worth $18,599,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after purchasing an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Armstrong World Industries by 652.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Armstrong World Industries in the first quarter worth $54,000. Parallel Advisors LLC raised its position in shares of Armstrong World Industries by 28.9% in the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock worth $75,000 after buying an additional 103 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Armstrong World Industries by 40.5% in the first quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after buying an additional 170 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Truist Financial raised their price target on Armstrong World Industries from $195.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, September 12th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. UBS Group restated a "neutral" rating and set a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Armstrong World Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.50.

Armstrong World Industries Price Performance

AWI stock opened at $196.19 on Tuesday. Armstrong World Industries, Inc. has a 1 year low of $122.37 and a 1 year high of $200.84. The company has a market cap of $8.49 billion, a P/E ratio of 29.02, a PEG ratio of 2.16 and a beta of 1.46. The firm has a 50-day moving average of $188.51 and a 200 day moving average of $162.77. 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 released its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) 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 company had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. Armstrong World Industries's 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, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

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

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.

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