Fortitude Family Office LLC Acquires New Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Fortitude Family Office LLC bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 231 shares of the construction company’s stock, valued at approximately $33,000.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after acquiring an additional 51,839 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Armstrong World Industries by 1.5% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after buying an additional 17,075 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after buying an additional 34,028 shares during the period. Natixis Advisors LLC increased its stake in shares of Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after acquiring an additional 67,798 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock valued at $62,074,000 after acquiring an additional 18,333 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital raised their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Down 1.0 %

Shares of NYSE:AWI opened at $141.25 on Friday. The firm has a fifty day moving average price of $150.88 and a two-hundred day moving average price of $134.85. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.01 and a beta of 1.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a one year low of $96.69 and a one year high of $164.40.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period in the prior year, the company earned $1.60 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued 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 dividend on an annualized basis and a dividend yield of 0.87%. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.