18,870 Shares in Armstrong World Industries, Inc. $AWI Bought by Element Capital Management LLC

Key Points

• Element Capital Management LLC has acquired a new stake in Armstrong World Industries, purchasing 18,870 shares valued at approximately $2.66 million.
• Armstrong World Industries has received several analyst upgrades, with JPMorgan Chase & Co. issuing an "overweight" rating and a price target of $200.00 for the stock.
• The company recently reported an EPS of $2.09 for the last quarter, exceeding estimates by $0.34, and has declared a quarterly dividend of $0.308 per share.

Element Capital Management LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,870 shares of the construction company's stock, valued at approximately $2,658,000.

Several other large investors also recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Armstrong World Industries by 140.4% in 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 purchasing an additional 389,000 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of Armstrong World Industries by 267.1% in 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 purchasing an additional 387,537 shares during the period. GAMMA Investing LLC grew its stake in shares of Armstrong World Industries by 15,282.7% in the 1st quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company's stock valued at $398,530,000 after buying an additional 281,048 shares during the period. Invesco Ltd. grew its stake in shares of Armstrong World Industries by 34.0% in the 1st quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock valued at $95,886,000 after buying an additional 172,779 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Armstrong World Industries in the 1st quarter valued at approximately $23,449,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AWI. JPMorgan Chase & Co. started 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 target for 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. UBS Group reiterated a "neutral" rating and issued a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a research 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 research report on Wednesday, July 30th. Finally, Bank of America raised their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Trading Down 0.9%

NYSE AWI traded down $1.79 during trading on Wednesday, hitting $193.48. The stock had a trading volume of 286,104 shares, compared to its average volume of 487,747. The company has a market capitalization of $8.37 billion, a PE ratio of 28.62, a PEG ratio of 2.15 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $172.16 and a 200 day moving average price of $155.48. Armstrong World Industries, Inc. has a twelve month low of $118.14 and a twelve month high of $197.04.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. The firm had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, equities 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 will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.308 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. Armstrong World Industries's payout ratio is 18.20%.

Armstrong World Industries Company 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.