Vestcor Inc Purchases Shares of 3,081 Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Vestcor Inc. acquired 3,081 shares of Armstrong World Industries, valued at approximately $434,000, indicating strong interest from institutional investors in the construction sector.
• Equities research analysts have set a consensus target price of $177.13 for Armstrong World Industries, with several analysts giving the company buy ratings.
• Armstrong World Industries also announced a quarterly dividend of $0.308 per share, reflecting a dividend yield of 0.6% and a payout ratio of 18.20%.

Vestcor Inc acquired a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,081 shares of the construction company's stock, valued at approximately $434,000.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew 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 last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of 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 purchasing an additional 3,200 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Armstrong World Industries in the fourth quarter valued at approximately $2,326,000. Golden State Wealth Management LLC raised its position in Armstrong World Industries by 100.0% in the 1st 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. Finally, GAMMA Investing LLC boosted its position in Armstrong World Industries by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock valued at $283,000 after buying an additional 169 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AWI shares. Bank of America boosted their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group reiterated a "neutral" rating and set a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Evercore ISI boosted their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.

Armstrong World Industries Trading Up 0.5%

NYSE:AWI traded up $0.96 during trading hours on Tuesday, hitting $190.54. The stock had a trading volume of 413,875 shares, compared to its average volume of 415,010. The business's 50 day moving average is $163.24 and its 200-day moving average is $152.03. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.08 and a beta of 1.43. Armstrong World Industries, Inc. has a one year low of $117.92 and a one year high of $191.74.

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

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's payout ratio is presently 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.