Argent Trust Co Has $298,000 Position in Armstrong World Industries, Inc. (NYSE:AWI)

Argent Trust Co boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 9.0% in the second quarter, HoldingsChannel reports. The firm owned 2,628 shares of the construction company’s stock after purchasing an additional 217 shares during the quarter. Argent Trust Co’s holdings in Armstrong World Industries were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AWI. Capital International Investors grew its stake in Armstrong World Industries by 1.3% in the 4th quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock valued at $491,551,000 after buying an additional 63,618 shares during the last quarter. Vanguard Group Inc. boosted its stake in Armstrong World Industries by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after purchasing an additional 517,699 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after buying an additional 569,824 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in Armstrong World Industries by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,134,367 shares of the construction company’s stock worth $140,911,000 after buying an additional 13,380 shares during the period. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of Armstrong World Industries by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock worth $82,168,000 after buying an additional 14,450 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Down 0.4 %

Shares of AWI opened at $131.30 on Friday. The firm has a 50 day simple moving average of $124.26 and a two-hundred day simple moving average of $119.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. Armstrong World Industries, Inc. has a one year low of $68.35 and a one year high of $134.90. The company has a market cap of $5.75 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.73 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The business had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. During the same period in the prior year, the company earned $1.38 EPS. Armstrong World Industries’s revenue for the quarter was up 12.2% on a year-over-year basis. Research analysts forecast that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group increased their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial lifted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI increased their price target on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.75.

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.