Fifth Third Wealth Advisors LLC Buys New Shares in Armstrong World Industries, Inc. $AWI

Key Points

• Fifth Third Wealth Advisors LLC has acquired a new stake in Armstrong World Industries, buying 1,290 shares valued at approximately $210,000 in the second quarter.
• Armstrong World Industries reported earnings of $1.36 per share for the most recent quarter, with a revenue of $325 million and a net margin of 18.95%.
• The company declared a quarterly dividend of $0.308 per share, representing an annualized yield of 0.6%, with a low dividend payout ratio of 18.20%.

Fifth Third Wealth Advisors LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,290 shares of the construction company's stock, valued at approximately $210,000.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in 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. Parallel Advisors LLC grew its position in Armstrong World Industries by 28.9% in the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock valued at $75,000 after purchasing an additional 103 shares in the last quarter. Covestor Ltd grew its position in Armstrong World Industries by 40.5% in the first quarter. Covestor Ltd now owns 590 shares of the construction company's stock valued at $83,000 after purchasing an additional 170 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Armstrong World Industries in the first quarter valued at $91,000. Finally, Archer Investment Corp acquired a new stake in Armstrong World Industries in the first quarter valued at $113,000. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

NYSE AWI opened at $198.77 on Wednesday. The firm has a 50-day moving average of $195.26 and a 200-day moving average of $168.61. 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 stock has a market cap of $8.60 billion, a PE ratio of 29.40, a P/E/G ratio of 1.96 and a beta of 1.45. Armstrong World Industries, Inc. has a 52-week low of $122.37 and a 52-week high of $201.72.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The company had revenue of $325.00 million during the quarter. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. On average, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders 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 was Thursday, August 7th. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.20%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. JPMorgan Chase & Co. assumed 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Armstrong World Industries in a research note on Wednesday, October 8th. Bank of America increased their price target on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Finally, Truist Financial increased their price target on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $197.14.

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.

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