Kayne Anderson Rudnick Investment Management LLC Has $156.73 Million Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 3.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,384,088 shares of the construction company’s stock after selling 46,663 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 3.16% of Armstrong World Industries worth $156,734,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AWI. Jupiter Asset Management Ltd. bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $2,081,000. Assenagon Asset Management S.A. boosted its position in shares of Armstrong World Industries by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after acquiring an additional 33,290 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Armstrong World Industries in the first quarter worth approximately $3,097,000. Los Angeles Capital Management LLC purchased a new stake in Armstrong World Industries in the first quarter valued at approximately $39,183,000. Finally, Chesapeake Capital Corp IL bought a new stake in Armstrong World Industries during the fourth quarter valued at approximately $918,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Armstrong World Industries Stock Performance

NYSE:AWI opened at $131.30 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. Armstrong World Industries, Inc. has a twelve month low of $68.35 and a twelve month high of $134.90. The stock has a market cap of $5.75 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The firm’s fifty day simple moving average is $124.53 and its 200 day simple moving average is $119.66.

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

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, August 8th. Armstrong World Industries’s payout ratio is presently 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.