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R Squared Ltd Invests $234,000 in Armstrong World Industries, Inc. (NYSE:AWI)

Armstrong World Industries logo with Construction background

Key Points

  • R Squared Ltd acquired a new stake in Armstrong World Industries, purchasing 1,660 shares valued at approximately $234,000 in the 1st quarter.
  • Armstrong World Industries reported a quarterly earnings of $2.09 per share, surpassing analysts' estimates and showing a 16.3% increase in revenue year-over-year.
  • The company will issue a quarterly dividend of $0.308 per share on August 21st, representing an annualized yield of 0.7% and a dividend payout ratio of 18.20%.
  • Want stock alerts on Armstrong World Industries? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

R Squared Ltd bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,660 shares of the construction company's stock, valued at approximately $234,000.

A number of other institutional investors have also modified their holdings of AWI. Golden State Wealth Management LLC boosted its stake 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 worth $39,000 after buying an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 acquiring an additional 287 shares during the period. Versant Capital Management Inc bought a new stake in shares of Armstrong World Industries during the first quarter valued at approximately $54,000. Archer Investment Corp bought a new position in Armstrong World Industries during the first quarter valued at approximately $113,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Armstrong World Industries by 29.3% in the 1st quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock valued at $126,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Truist Financial set a $195.00 target price on Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Read Our Latest Report on Armstrong World Industries

Armstrong World Industries Stock Down 1.1%

AWI traded down $2.07 on Thursday, hitting $188.50. 21,584 shares of the company were exchanged, compared to its average volume of 317,875. The company has a market cap of $8.15 billion, a PE ratio of 27.94, a PEG ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. Armstrong World Industries, Inc. has a 12 month low of $117.92 and a 12 month high of $192.00. The stock's fifty day moving average is $164.60 and its 200-day moving average is $152.56.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. The firm had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Armstrong World Industries Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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