Assenagon Asset Management S.A. Raises Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Assenagon Asset Management S.A. increased its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 48.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,567 shares of the construction company’s stock after purchasing an additional 31,251 shares during the quarter. Assenagon Asset Management S.A. owned 0.22% of Armstrong World Industries worth $12,560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AWI. Jupiter Asset Management Ltd. boosted its holdings in Armstrong World Industries by 1,369.3% in the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after purchasing an additional 229,378 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Armstrong World Industries by 46.0% in the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after purchasing an additional 145,133 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock worth $48,049,000 after purchasing an additional 110,111 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Armstrong World Industries by 171.0% in the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after purchasing an additional 79,475 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Armstrong World Industries by 27.8% in the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after purchasing an additional 67,954 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AWI. Jefferies Financial Group increased their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. 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 target on shares of 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. Truist Financial increased their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group increased their price target 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Armstrong World Industries Stock Down 2.7 %

AWI opened at $136.19 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. Armstrong World Industries, Inc. has a fifty-two week low of $72.30 and a fifty-two week high of $142.33. The firm’s fifty day moving average is $130.29 and its 200 day moving average is $121.98. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS. Armstrong World Industries’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.308 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.90%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. 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.