Burgundy Asset Management Ltd. grew its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,282,996 shares of the construction company's stock after purchasing an additional 84,195 shares during the period. Armstrong World Industries makes up about 1.9% of Burgundy Asset Management Ltd.'s holdings, making the stock its 16th biggest position. Burgundy Asset Management Ltd. owned approximately 2.95% of Armstrong World Industries worth $180,748,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Algert Global LLC increased its position in Armstrong World Industries by 1.7% during the 1st quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock worth $948,000 after purchasing an additional 110 shares during the period. American Century Companies Inc. increased its position in Armstrong World Industries by 30.2% during the 1st quarter. American Century Companies Inc. now owns 116,636 shares of the construction company's stock worth $16,432,000 after purchasing an additional 27,087 shares during the period. Element Capital Management LLC acquired a new position in Armstrong World Industries during the 1st quarter worth approximately $2,658,000. Fox Run Management L.L.C. increased its position in Armstrong World Industries by 153.8% during the 1st quarter. Fox Run Management L.L.C. now owns 9,021 shares of the construction company's stock worth $1,271,000 after purchasing an additional 5,467 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Armstrong World Industries during the 1st quarter worth approximately $91,000. Institutional investors and hedge funds own 98.93% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. UBS Group reiterated a "neutral" rating and set a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Wall Street Zen upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Finally, Bank of America upped their price target on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Four equities 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $177.13.
View Our Latest Report on Armstrong World Industries
Armstrong World Industries Price Performance
AWI stock traded up $4.36 on Friday, reaching $197.90. The company had a trading volume of 108,754 shares, compared to its average volume of 322,847. Armstrong World Industries, Inc. has a 1 year low of $118.14 and a 1 year high of $198.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The company's fifty day moving average is $172.95 and its 200 day moving average is $155.79. The company has a market cap of $8.56 billion, a P/E ratio of 29.27, a PEG ratio of 2.13 and a beta of 1.43.
Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $404.05 million. During the same quarter in the prior year, the company earned $1.62 EPS. 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, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.
Armstrong World Industries Dividend Announcement
The firm also recently declared 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. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 18.20%.
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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