GAMMA Investing LLC Purchases 637 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

GAMMA Investing LLC boosted its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 71.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,523 shares of the construction company’s stock after buying an additional 637 shares during the period. GAMMA Investing LLC’s holdings in Armstrong World Industries were worth $200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AWI. Price T Rowe Associates Inc. MD increased 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 worth $155,991,000 after buying an additional 569,824 shares in the last quarter. Vanguard Group Inc. raised its position in Armstrong World Industries by 12.2% in the 4th 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. Los Angeles Capital Management LLC acquired a new position in Armstrong World Industries in the first quarter worth $39,183,000. Park Avenue Securities LLC boosted its stake in Armstrong World Industries by 7.5% in the first quarter. Park Avenue Securities LLC now owns 6,530 shares of the construction company’s stock worth $811,000 after purchasing an additional 457 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Armstrong World Industries during the first quarter worth $27,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AWI shares. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial upped their target price 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. 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 report on Wednesday. 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 report on Wednesday, July 31st. Finally, UBS Group lifted their target price on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Armstrong World Industries Price Performance

Shares of AWI stock opened at $136.26 on Friday. The firm’s 50 day moving average price is $126.54 and its two-hundred day moving average price is $120.79. The stock has a market cap of $5.95 billion, a PE ratio of 24.86, a PEG ratio of 1.92 and a beta of 1.14. Armstrong World Industries, Inc. has a 52-week low of $68.35 and a 52-week high of $136.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76.

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

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.28 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.82%. Armstrong World Industries’s dividend payout ratio is 20.44%.

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.