Wealth Enhancement Advisory Services LLC Raises Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Wealth Enhancement Advisory Services LLC increased its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 113.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,773 shares of the construction company's stock after buying an additional 2,538 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Armstrong World Industries were worth $672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AWI. Bank of New York Mellon Corp grew its stake in shares of Armstrong World Industries by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 380,281 shares of the construction company's stock worth $53,745,000 after buying an additional 2,149 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Armstrong World Industries by 196.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company's stock valued at $80,000 after purchasing an additional 376 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Armstrong World Industries by 103.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,265 shares of the construction company's stock valued at $179,000 after purchasing an additional 643 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Armstrong World Industries by 133.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,257 shares of the construction company's stock valued at $178,000 after purchasing an additional 719 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in Armstrong World Industries by 4.0% during the 4th quarter. Atria Investments Inc now owns 11,140 shares of the construction company's stock valued at $1,574,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

AWI has been the topic of several research analyst reports. Loop Capital lowered their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Bank of America increased their price target on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $162.88.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded down $0.64 during trading on Monday, reaching $167.11. 209,697 shares of the stock traded hands, compared to its average volume of 276,595. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 2.10 and a beta of 1.37. The business has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $148.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. Armstrong World Industries, Inc. has a 52-week low of $111.89 and a 52-week high of $169.32.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping 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 analysts' expectations of $370.71 million. During the same period in the previous year, the firm posted $1.38 earnings per share. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors 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 yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 8th. 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.