Raymond James & Associates Raises Position in Armstrong World Industries, Inc. (NYSE:AWI)

Raymond James & Associates lifted its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,207 shares of the construction company’s stock after purchasing an additional 278 shares during the period. Raymond James & Associates’ holdings in Armstrong World Industries were worth $8,856,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors grew its holdings in Armstrong World Industries by 1.3% during the fourth quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock valued at $491,551,000 after purchasing an additional 63,618 shares during the period. Vanguard Group Inc. lifted its position in shares of Armstrong World Industries by 12.2% during the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after buying an additional 517,699 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Armstrong World Industries by 56.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after acquiring an additional 569,824 shares during the period. Burgundy Asset Management Ltd. grew its stake in shares of Armstrong World Industries by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,134,367 shares of the construction company’s stock valued at $140,911,000 after acquiring an additional 13,380 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Armstrong World Industries by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,763 shares of the construction company’s stock worth $103,215,000 after acquiring an additional 32,133 shares during the period. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Price Performance

AWI stock opened at $125.65 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.22 and a current ratio of 1.76. The company’s fifty day moving average price is $120.05 and its 200-day moving average price is $118.27. Armstrong World Industries, Inc. has a one year low of $68.35 and a one year high of $134.90. The company has a market capitalization of $5.50 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, topping 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 business 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. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

AWI has been the subject of a number of recent analyst reports. Truist Financial upped 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. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group boosted their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI upped their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.75.

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.