Envestnet Asset Management Inc. Increases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Asset Management Inc. lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWIGet Rating) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,032 shares of the construction company’s stock after buying an additional 2,499 shares during the quarter. Envestnet Asset Management Inc. owned about 0.29% of Armstrong World Industries worth $12,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of Armstrong World Industries by 0.9% during the fourth quarter. Bank of Montreal Can now owns 22,100 shares of the construction company’s stock valued at $2,580,000 after buying an additional 199 shares during the period. Loomis Sayles & Co. L P grew its holdings in Armstrong World Industries by 0.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 88,822 shares of the construction company’s stock worth $10,314,000 after purchasing an additional 311 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Armstrong World Industries by 8.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 27,401 shares of the construction company’s stock worth $2,466,000 after purchasing an additional 2,064 shares during the period. Cannell & Co. grew its holdings in Armstrong World Industries by 9.5% in the fourth quarter. Cannell & Co. now owns 17,007 shares of the construction company’s stock worth $1,975,000 after purchasing an additional 1,470 shares during the period. Finally, Taylor Hoffman Wealth Management grew its holdings in Armstrong World Industries by 1.8% in the fourth quarter. Taylor Hoffman Wealth Management now owns 33,740 shares of the construction company’s stock worth $3,918,000 after purchasing an additional 599 shares during the period. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Armstrong World Industries Stock Down 0.6 %

AWI opened at $88.18 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 1.25. Armstrong World Industries, Inc. has a 1-year low of $73.25 and a 1-year high of $118.14. The company has a market capitalization of $4.09 billion, a PE ratio of 22.10, a PEG ratio of 1.44 and a beta of 1.23. The firm’s 50 day simple moving average is $81.05 and its two-hundred day simple moving average is $87.55.

Armstrong World Industries (NYSE:AWIGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.09). Armstrong World Industries had a return on equity of 41.11% and a net margin of 16.07%. The business had revenue of $321.00 million during the quarter, compared to the consensus estimate of $317.19 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that Armstrong World Industries, Inc. will post 5.12 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th will be given a $0.231 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $0.92 annualized dividend and a yield of 1.05%. Armstrong World Industries’s payout ratio is presently 23.06%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AWI shares. Truist Financial cut their price objective on shares of Armstrong World Industries from $124.00 to $110.00 in a report on Wednesday, April 27th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Loop Capital upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Wednesday, June 15th. They noted that the move was a valuation call. The Goldman Sachs Group upgraded shares of Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Wednesday, July 13th. Finally, UBS Group dropped their target price on shares of Armstrong World Industries from $86.00 to $82.00 and set a “sell” rating on the stock in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.44.

Armstrong World Industries Company Profile

(Get Rating)

Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

Recommended Stories

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

Receive News & Ratings for Armstrong World Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong World Industries and related companies with MarketBeat.com's FREE daily email newsletter.