TradeLink Capital LLC Buys New Position in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• TradeLink Capital LLC purchased 2,135 shares of Armstrong World Industries, valued at approximately $301,000, making it the company's 19th largest holding.
• Armstrong World Industries reported $2.09 earnings per share for the last quarter, exceeding analysts' estimates of $1.75 and demonstrating a 16.3% increase in revenue compared to the previous year.
• The company has announced a quarterly dividend of $0.308 per share, representing a yield of 0.65% and a payout ratio of 19.68%.

TradeLink Capital LLC acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,135 shares of the construction company's stock, valued at approximately $301,000. Armstrong World Industries comprises 1.9% of TradeLink Capital LLC's portfolio, making the stock its 19th biggest position.

A number of other institutional investors also recently made changes to their positions in the business. Golden State Wealth Management LLC grew its holdings in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after purchasing an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Armstrong World Industries by 652.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock valued at $47,000 after acquiring an additional 287 shares during the period. Versant Capital Management Inc purchased a new position in shares of Armstrong World Industries in the first quarter valued at about $54,000. Archer Investment Corp bought a new position in shares of Armstrong World Industries during the first quarter valued at about $113,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Armstrong World Industries by 29.3% during the first quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock worth $126,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AWI shares. 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 research report on Wednesday, July 30th. Truist Financial set a $195.00 price objective on shares of Armstrong World Industries and gave the stock a "buy" rating in a report on Wednesday, July 30th. Bank of America lifted their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group restated a "neutral" rating and set a $178.00 price target (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Finally, 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 for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $177.13.

Armstrong World Industries Stock Up 0.0%

NYSE:AWI traded up $0.06 on Monday, reaching $188.58. 121,824 shares of the stock traded hands, compared to its average volume of 317,357. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.07 and a beta of 1.43. Armstrong World Industries, Inc. has a 12 month low of $117.92 and a 12 month high of $191.74. The company's fifty day simple moving average is $162.54 and its 200 day simple moving average is $151.74.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The business had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. During the same period last year, the business posted $1.62 EPS. The company's revenue was up 16.3% compared to the same quarter last year. Equities 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 paid 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 payout ratio is currently 18.20%.

About Armstrong World Industries

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.