Bridgewater Associates LP Buys 746 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Bridgewater Associates LP boosted its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 39.3% during the 3rd quarter, Holdings Channel reports. The firm owned 2,646 shares of the construction company’s stock after buying an additional 746 shares during the quarter. Bridgewater Associates LP’s holdings in Armstrong World Industries were worth $348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AWI. Transcendent Capital Group LLC purchased a new stake in shares of Armstrong World Industries in the third quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in shares of Armstrong World Industries during the 3rd quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Armstrong World Industries by 41.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. First Horizon Advisors Inc. increased its position in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after purchasing an additional 125 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

NYSE AWI opened at $159.14 on Tuesday. The stock’s fifty day moving average price is $143.79 and its 200 day moving average price is $128.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.04 and a beta of 1.13. Armstrong World Industries, Inc. has a 1 year low of $89.87 and a 1 year high of $164.40.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the company earned $1.60 earnings per share. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.308 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. Armstrong World Industries’s dividend payout ratio (DPR) is 21.69%.

Analyst Ratings Changes

AWI has been the topic of a number of research reports. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group raised their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Loop Capital increased their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Four 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.com, the company currently has an average rating of “Hold” and a consensus price target of $140.83.

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.