Burgundy Asset Management Ltd. Raises Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Burgundy Asset Management Ltd. grew its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,151,442 shares of the construction company’s stock after acquiring an additional 17,075 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Armstrong World Industries were worth $130,389,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AWI. MQS Management LLC bought a new stake in Armstrong World Industries during the second quarter worth approximately $291,000. Hsbc Holdings PLC increased its position in shares of Armstrong World Industries by 247.4% during the 2nd quarter. Hsbc Holdings PLC now owns 11,405 shares of the construction company’s stock valued at $1,288,000 after purchasing an additional 8,122 shares during the last quarter. Argent Trust Co raised its holdings in Armstrong World Industries by 9.0% during the 2nd quarter. Argent Trust Co now owns 2,628 shares of the construction company’s stock valued at $298,000 after buying an additional 217 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Armstrong World Industries by 14.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 44,384 shares of the construction company’s stock worth $5,026,000 after buying an additional 5,652 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after buying an additional 67,954 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AWI. UBS Group increased their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial raised their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upped their target price on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.75.

Armstrong World Industries Stock Up 0.2 %

Shares of AWI opened at $128.82 on Thursday. The firm has a fifty day moving average price of $123.69 and a 200-day moving average price of $119.45. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.64 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.73 and a beta of 1.14. Armstrong World Industries, Inc. has a 12-month low of $68.35 and a 12-month high of $134.90.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. The company had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 EPS. Equities research analysts expect that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.28 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.12 annualized dividend and a yield of 0.87%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.05%.

About Armstrong World Industries

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.