Jefferies Financial Group Inc. Increases Position in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Jefferies Financial Group Inc. increased its stake in Armstrong World Industries by 198.5% during the first quarter, now owning over 7,141 shares worth approximately $1 million.
• Armstrong World Industries recently reported $2.09 earnings per share for the quarter, exceeding analysts' estimates of $1.75, with revenues totaling $424.60 million.
• The company announced a quarterly dividend of $0.308 per share, with an annualized yield of 0.6%, to be paid out on August 21st.

Jefferies Financial Group Inc. increased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 198.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,141 shares of the construction company's stock after acquiring an additional 4,749 shares during the period. Jefferies Financial Group Inc.'s holdings in Armstrong World Industries were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AWI. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Armstrong World Industries by 113.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock worth $672,000 after purchasing an additional 2,538 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in shares of Armstrong World Industries by 194.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock valued at $683,000 after acquiring an additional 3,200 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Armstrong World Industries during the fourth quarter worth $2,326,000. Golden State Wealth Management LLC lifted its position in Armstrong World Industries by 100.0% during 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 during the period. Finally, GAMMA Investing LLC grew its position in Armstrong World Industries by 9.2% during the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock worth $283,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group restated a "neutral" rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective on the stock. Bank of America increased their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $177.13.

Armstrong World Industries Stock Up 0.4%

Shares of AWI stock traded up $0.74 on Friday, reaching $188.61. 169,735 shares of the stock were exchanged, compared to its average volume of 318,884. The business's 50 day moving average price is $165.25 and its 200 day moving average price is $152.83. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.10 and a beta of 1.43. Armstrong World Industries, Inc. has a twelve month low of $117.92 and a twelve month high of $192.00. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same period in the prior year, the company earned $1.62 earnings per share. The company's revenue was up 16.3% compared to the same quarter last year. As a group, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.7%. Armstrong World Industries's dividend payout ratio is 18.20%.

About Armstrong World Industries

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.