Healthcare of Ontario Pension Plan Trust Fund Raises Stake in Armstrong World Industries, Inc. $AWI

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Armstrong World Industries stake by 239.5% in the first quarter, adding 64,800 shares to own 91,861 shares valued at approximately $15.1 million. Institutional investors collectively own 98.93% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $211.86, despite recent target reductions. Armstrong reported quarterly EPS of $1.69, below the $1.82 consensus, while revenue rose 7.1% year over year to $409.9 million.
• Armstrong declared a quarterly dividend of $0.339 per share, representing a 0.8% annualized yield, and approved an $800 million share-repurchase program covering up to 12.3% of outstanding shares.

Healthcare of Ontario Pension Plan Trust Fund increased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 239.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,861 shares of the construction company's stock after buying an additional 64,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of Armstrong World Industries worth $15,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Accurate Wealth Management LLC grew its stake in Armstrong World Industries by 3.5% in the 4th quarter. Accurate Wealth Management LLC now owns 1,490 shares of the construction company's stock worth $299,000 after acquiring an additional 51 shares during the period. Larson Financial Group LLC lifted its stake in shares of Armstrong World Industries by 77.0% during the 4th quarter. Larson Financial Group LLC now owns 131 shares of the construction company's stock worth $25,000 after purchasing an additional 57 shares during the period. MQS Management LLC lifted its stake in shares of Armstrong World Industries by 4.4% during the 1st quarter. MQS Management LLC now owns 1,474 shares of the construction company's stock worth $243,000 after purchasing an additional 62 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Armstrong World Industries by 4.3% during the fourth quarter. Advisory Services Network LLC now owns 1,700 shares of the construction company's stock worth $325,000 after purchasing an additional 70 shares during the last quarter. Finally, Interchange Capital Partners LLC boosted its holdings in shares of Armstrong World Industries by 6.1% during the fourth quarter. Interchange Capital Partners LLC now owns 1,292 shares of the construction company's stock worth $247,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America lowered their price objective on Armstrong World Industries from $216.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, April 20th. UBS Group decreased their price target on Armstrong World Industries from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings lowered Armstrong World Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 4th. Finally, Evercore set a $200.00 price target on Armstrong World Industries in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $211.86.

Armstrong World Industries Stock Up 2.6%

Shares of AWI opened at $164.96 on Tuesday. The firm has a market cap of $7.04 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. The company's fifty day moving average is $156.77 and its two-hundred day moving average is $170.58. Armstrong World Industries, Inc. has a fifty-two week low of $150.28 and a fifty-two week high of $206.08. The company has a quick ratio of 1.04, a current ratio of 1.54 and a debt-to-equity ratio of 0.56.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.13). The company had revenue of $409.90 million for the quarter, compared to analysts' expectations of $409.46 million. Armstrong World Industries had a net margin of 18.59% and a return on equity of 36.71%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. Analysts forecast that Armstrong World Industries, Inc. will post 8.31 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be issued a $0.339 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Armstrong World Industries's dividend payout ratio (DPR) is presently 19.29%.

Armstrong World Industries declared that its board has approved a share repurchase program on Tuesday, July 21st that permits the company to repurchase $800.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Armstrong World Industries Profile

Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.

Armstrong's product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.

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