R Squared Ltd Purchases Shares of 1,660 Armstrong World Industries, Inc. (NYSE:AWI)

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%.

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

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Armstrong World Industries by 113.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after purchasing an additional 2,538 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Armstrong World Industries by 194.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock valued at $683,000 after purchasing an additional 3,200 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Armstrong World Industries during the 4th quarter valued at $2,326,000. Golden State Wealth Management LLC increased its position in shares of Armstrong World Industries by 100.0% during the 1st 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 last quarter. Finally, GAMMA Investing LLC increased its position in shares of Armstrong World Industries by 9.2% during the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock valued at $283,000 after purchasing an additional 169 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AWI shares. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target for the company. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Evercore ISI lifted their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. Finally, UBS Group reissued a "neutral" rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Price Performance

AWI traded down $0.79 during trading on Tuesday, reaching $188.79. 15,059 shares of the company were exchanged, compared to its average volume of 317,144. The company's 50-day moving average is $163.24 and its two-hundred day moving average is $152.03. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.07 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. Armstrong World Industries, Inc. has a 12-month low of $117.92 and a 12-month high of $191.74.

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

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued 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 yield of 0.7%. Armstrong World Industries's dividend payout ratio is 18.20%.

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.