QRG Capital Management Inc. Acquires Shares of 1,533 Armstrong World Industries, Inc. $AWI

Key Points

• QRG Capital Management Inc. has acquired a new stake in Armstrong World Industries, purchasing 1,533 shares valued at approximately $249,000.
• Several institutional investors have significantly increased their stakes in Armstrong World Industries, reflecting growing confidence in the company.
• Armstrong World Industries disclosed a quarterly dividend of $0.308, with a dividend yield of 0.6% and a payout ratio of 18.20%.

QRG Capital Management Inc. acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,533 shares of the construction company's stock, valued at approximately $249,000.

A number of other institutional investors have also recently bought and sold shares of AWI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Armstrong World Industries by 131.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company's stock valued at $62,060,000 after purchasing an additional 250,133 shares during the period. Invesco Ltd. grew its stake in Armstrong World Industries by 34.0% in the 1st quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock valued at $95,886,000 after purchasing an additional 172,779 shares during the period. Nuveen LLC bought a new position in shares of Armstrong World Industries during the 1st quarter worth $23,449,000. Global Alpha Capital Management Ltd. bought a new position in shares of Armstrong World Industries during the 1st quarter worth $21,301,000. Finally, AQR Capital Management LLC grew its stake in shares of Armstrong World Industries by 91.7% during the 1st quarter. AQR Capital Management LLC now owns 248,363 shares of the construction company's stock worth $34,296,000 after acquiring an additional 118,830 shares during the period. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group reiterated a "neutral" rating and set a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Evercore ISI increased their price target on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. Truist Financial increased their price target on Armstrong World Industries from $195.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Loop Capital set a $190.00 price target on Armstrong World Industries and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Armstrong World Industries in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Armstrong World Industries has a consensus rating of "Moderate Buy" and an average price target of $197.14.

Armstrong World Industries Stock Down 0.6%

Shares of NYSE AWI opened at $193.56 on Monday. Armstrong World Industries, Inc. has a 52 week low of $122.37 and a 52 week high of $201.72. The business has a 50-day simple moving average of $194.97 and a two-hundred day simple moving average of $168.00. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.37 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.94 and a beta of 1.45.

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

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.308 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. Armstrong World Industries's dividend payout ratio (DPR) is presently 18.20%.

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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