Merit Financial Group LLC Takes $410,000 Position in Armstrong World Industries, Inc. (NYSE:AWI)

Merit Financial Group LLC bought a new position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,913 shares of the construction company's stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AWI. NBC Securities Inc. grew its holdings in shares of Armstrong World Industries by 125,666.7% during the first quarter. NBC Securities Inc. now owns 3,773 shares of the construction company's stock valued at $531,000 after buying an additional 3,770 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Armstrong World Industries by 15,282.7% during the first quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company's stock worth $398,530,000 after purchasing an additional 281,048 shares during the period. Versant Capital Management Inc purchased a new position in Armstrong World Industries during the first quarter valued at approximately $54,000. MassMutual Private Wealth & Trust FSB grew its position in Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock valued at $47,000 after purchasing an additional 287 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Armstrong World Industries in the 4th quarter valued at approximately $316,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Up 0.5%

NYSE:AWI traded up $0.73 during trading hours on Thursday, reaching $153.63. The company's stock had a trading volume of 73,454 shares, compared to its average volume of 273,782. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The business's 50-day moving average is $146.70 and its 200-day moving average is $147.72.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same quarter in the prior year, the company posted $1.38 EPS. The firm's revenue was up 17.3% on a year-over-year basis. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's dividend payout ratio is 19.68%.

Analyst Ratings Changes

AWI has been the subject of a number of research reports. Truist Financial lifted their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Bank of America lifted their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. The Goldman Sachs Group upped their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. UBS Group raised their price target on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Loop Capital reduced their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $157.57.

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.