Sequoia Financial Advisors LLC Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Sequoia Financial Advisors LLC acquired a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,332 shares of the construction company's stock, valued at approximately $892,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake 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 worth $39,000 after acquiring an additional 140 shares during the period. Lecap Asset Management Ltd. lifted its holdings in shares of Armstrong World Industries by 178.5% in the first quarter. Lecap Asset Management Ltd. now owns 11,603 shares of the construction company's stock worth $1,635,000 after buying an additional 7,437 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in Armstrong World Industries by 194.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock valued at $683,000 after acquiring an additional 3,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in 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 worth $672,000 after acquiring an additional 2,538 shares during the period. Finally, Elevation Point Wealth Partners LLC lifted its stake in Armstrong World Industries by 5.7% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock worth $221,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AWI shares. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Bank of America raised 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. assumed coverage on Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective on the stock. Finally, Loop Capital cut their target price on 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. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $162.88.

Armstrong World Industries Trading Up 1.0%

Shares of NYSE:AWI traded up $1.67 during trading hours on Thursday, hitting $167.75. 298,157 shares of the company's stock traded hands, compared to its average volume of 276,385. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The business has a fifty day moving average price of $153.98 and a 200-day moving average price of $147.56. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $169.32. The firm has a market capitalization of $7.29 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The company had revenue of $382.70 million for 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. Armstrong World Industries's quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.73%. Armstrong World Industries's payout ratio is currently 19.68%.

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.