Cerity Partners LLC Acquires 4,165 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Cerity Partners LLC grew its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,924 shares of the construction company's stock after buying an additional 4,165 shares during the quarter. Cerity Partners LLC's holdings in Armstrong World Industries were worth $2,948,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after acquiring an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake 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 purchasing an additional 287 shares during the last quarter. Versant Capital Management Inc bought a new position in Armstrong World Industries during the 1st quarter valued at approximately $54,000. Farther Finance Advisors LLC lifted its holdings in Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after acquiring an additional 202 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Armstrong World Industries by 29.3% during the 1st quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock valued at $126,000 after purchasing an additional 203 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

AWI traded down $1.65 on Friday, reaching $165.19. The stock had a trading volume of 262,873 shares, compared to its average volume of 275,106. Armstrong World Industries, Inc. has a fifty-two week low of $117.92 and a fifty-two week high of $170.86. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The firm has a 50-day moving average of $158.95 and a 200-day moving average of $149.41. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The firm had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. During the same quarter in the previous year, the firm posted $1.38 EPS. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries's dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AWI shares. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price on the stock. Loop Capital lowered their price objective on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, Bank of America upped their target price on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.