Hsbc Holdings PLC Purchases 8,122 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Hsbc Holdings PLC raised its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 247.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,405 shares of the construction company’s stock after acquiring an additional 8,122 shares during the quarter. Hsbc Holdings PLC’s holdings in Armstrong World Industries were worth $1,288,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Capital International Investors boosted its position in Armstrong World Industries by 1.3% during the 4th quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock valued at $491,551,000 after acquiring an additional 63,618 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Armstrong World Industries by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after purchasing an additional 517,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Armstrong World Industries by 56.0% during the fourth 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 purchasing an additional 569,824 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Armstrong World Industries by 1.2% during the first quarter. Burgundy Asset Management Ltd. now owns 1,134,367 shares of the construction company’s stock valued at $140,911,000 after purchasing an additional 13,380 shares during the last quarter. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of Armstrong World Industries by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after purchasing an additional 14,450 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AWI has been the subject of several recent 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. Truist Financial lifted their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI lifted their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Finally, UBS Group boosted their price objective on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.75.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $131.05 on Friday. Armstrong World Industries, Inc. has a twelve month low of $68.35 and a twelve month high of $134.90. The firm has a market cap of $5.73 billion, a P/E ratio of 24.63, a PEG ratio of 1.88 and a beta of 1.14. The company has a 50 day moving average of $125.60 and a 200 day moving average of $120.01. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The company had revenue of $365.10 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. As a group, research analysts expect that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.85%. Armstrong World Industries’s dividend payout ratio is presently 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.