Royal Bank of Canada Buys 22,053 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Royal Bank of Canada increased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,852 shares of the construction company's stock after purchasing an additional 22,053 shares during the quarter. Royal Bank of Canada owned approximately 0.48% of Armstrong World Industries worth $29,799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of Armstrong World Industries in the 4th quarter valued at about $2,301,000. Point72 Hong Kong Ltd grew its stake in Armstrong World Industries by 128.7% in the 4th quarter. Point72 Hong Kong Ltd now owns 2,948 shares of the construction company's stock valued at $417,000 after buying an additional 1,659 shares during the last quarter. Quantinno Capital Management LP grew its stake in Armstrong World Industries by 52.0% in the 4th quarter. Quantinno Capital Management LP now owns 14,430 shares of the construction company's stock valued at $2,039,000 after buying an additional 4,936 shares during the last quarter. Moore Capital Management LP acquired a new position in Armstrong World Industries in the 4th quarter valued at about $3,285,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Armstrong World Industries in the 4th quarter valued at about $467,000. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded down $0.34 on Thursday, reaching $155.16. 27,511 shares of the company's stock were exchanged, compared to its average volume of 274,831. The company has a fifty day moving average of $143.95 and a 200-day moving average of $147.71. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.60 and a beta of 1.36.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued 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. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. 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 firm posted $1.38 EPS. The firm's quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries's dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America upped their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Loop Capital decreased their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group upped their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company 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.