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Vestcor Inc Buys New Position in Armstrong World Industries, Inc. (NYSE:AWI)

Armstrong World Industries logo with Construction background

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%.
  • Want stock alerts on Armstrong World Industries? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Vestcor Inc bought 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 Form 13F filing with the Securities and Exchange Commission. The firm bought 3,081 shares of the construction company's stock, valued at approximately $434,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its holdings in Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after acquiring an additional 19,787 shares during the period. Geode Capital Management LLC lifted its stake in shares of Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after purchasing an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after buying an additional 387,537 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Armstrong World Industries by 25.4% in the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock valued at $71,773,000 after buying an additional 102,895 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AWI. UBS Group reiterated 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. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Finally, Bank of America raised 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $177.13.

Read Our Latest Report on AWI

Armstrong World Industries Price Performance

Shares of NYSE:AWI traded down $2.12 on Thursday, hitting $188.44. The company had a trading volume of 98,307 shares, compared to its average volume of 318,319. The business has a 50 day moving average of $164.60 and a 200 day moving average of $152.56. Armstrong World Industries, Inc. has a 52-week low of $117.92 and a 52-week high of $192.00. The company has a market cap of $8.15 billion, a PE ratio of 27.86, a PEG ratio of 2.10 and a beta of 1.43. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping analysts' consensus estimates 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 company 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 quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

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 given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's payout ratio is 18.20%.

Armstrong World Industries Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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