Lecap Asset Management Ltd. Buys 7,437 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Lecap Asset Management Ltd. boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 178.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,603 shares of the construction company's stock after acquiring an additional 7,437 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Armstrong World Industries were worth $1,635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Twin Tree Management LP acquired a new stake in shares of Armstrong World Industries during the fourth quarter worth $43,000. MassMutual Private Wealth & Trust FSB raised its holdings in Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after buying an additional 287 shares during the period. Versant Capital Management Inc purchased a new stake in Armstrong World Industries during the first quarter valued at about $54,000. Farther Finance Advisors LLC lifted its stake in Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after buying an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Armstrong World Industries by 196.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company's stock worth $80,000 after buying an additional 376 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AWI. Truist Financial boosted their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group increased their target price on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wall Street Zen cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday. They set an "overweight" rating and a $200.00 price target on the stock. Finally, Loop Capital reduced their price objective on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $162.88.

Armstrong World Industries Stock Up 1.5%

Shares of NYSE:AWI traded up $2.34 during midday trading on Friday, hitting $162.92. 598,375 shares of the stock were exchanged, compared to its average volume of 276,534. The company has a market capitalization of $7.08 billion, a PE ratio of 26.07, a P/E/G ratio of 2.01 and a beta of 1.38. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.60. The business's fifty day simple moving average is $152.04 and its two-hundred day simple moving average is $147.37.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The company had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The business's quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the business earned $1.38 EPS. As a group, research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's dividend payout ratio is 19.68%.

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.