BNP Paribas Financial Markets Buys 5,191 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

BNP Paribas Financial Markets boosted its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 89.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,011 shares of the construction company’s stock after purchasing an additional 5,191 shares during the period. BNP Paribas Financial Markets’ holdings in Armstrong World Industries were worth $1,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP lifted its stake in Armstrong World Industries by 196.1% during the third quarter. Quantbot Technologies LP now owns 5,389 shares of the construction company’s stock worth $708,000 after purchasing an additional 3,569 shares during the period. Bank of Montreal Can lifted its stake in Armstrong World Industries by 166.2% during the third quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock worth $6,417,000 after purchasing an additional 30,570 shares during the period. Cerity Partners LLC lifted its stake in Armstrong World Industries by 31.1% during the third quarter. Cerity Partners LLC now owns 17,038 shares of the construction company’s stock worth $2,239,000 after purchasing an additional 4,044 shares during the period. Citigroup Inc. lifted its stake in Armstrong World Industries by 7.3% during the third quarter. Citigroup Inc. now owns 32,697 shares of the construction company’s stock worth $4,297,000 after purchasing an additional 2,215 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Armstrong World Industries by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares during the period. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

AWI has been the subject of a number of analyst reports. Evercore ISI raised their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Jefferies Financial Group raised their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Truist Financial raised their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Trading Down 0.7 %

AWI opened at $157.78 on Monday. The stock has a market capitalization of $6.88 billion, a P/E ratio of 27.83, a P/E/G ratio of 2.04 and a beta of 1.15. Armstrong World Industries, Inc. has a 12 month low of $90.93 and a 12 month high of $164.40. The firm’s fifty day simple moving average is $146.54 and its 200 day simple moving average is $129.86. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

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

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.308 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is presently 21.69%.

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.