Park Avenue Securities LLC Raises Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Park Avenue Securities LLC raised its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 7.5% during the 1st quarter, Holdings Channel reports. The fund owned 6,530 shares of the construction company’s stock after purchasing an additional 457 shares during the period. Park Avenue Securities LLC’s holdings in Armstrong World Industries were worth $811,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AWI. Headlands Technologies LLC purchased a new stake in shares of Armstrong World Industries during the 4th quarter worth approximately $27,000. GAMMA Investing LLC purchased a new stake in Armstrong World Industries during the 4th quarter valued at $49,000. SRS Capital Advisors Inc. raised its holdings in Armstrong World Industries by 19.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,209 shares of the construction company’s stock valued at $159,000 after buying an additional 363 shares during the period. Principal Securities Inc. purchased a new stake in Armstrong World Industries during the 4th quarter valued at $185,000. Finally, Aristides Capital LLC purchased a new stake in Armstrong World Industries during the 4th quarter valued at $202,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Evercore ISI upped their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. Finally, UBS Group upped their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $110.17.

Armstrong World Industries Price Performance

AWI opened at $112.00 on Thursday. Armstrong World Industries, Inc. has a 12-month low of $68.35 and a 12-month high of $125.56. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $115.22 and its 200-day simple moving average is $111.42. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.69 and a beta of 1.16.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The business had revenue of $326.30 million for the quarter, compared to the consensus estimate of $319.44 million. During the same quarter in the prior year, the company earned $1.12 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 8th. Armstrong World Industries’s payout ratio is currently 21.05%.

Armstrong World Industries 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.