1,855 Shares in Armstrong World Industries, Inc. (NYSE:AWI) Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. bought a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,855 shares of the construction company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new stake in shares of Armstrong World Industries in the first quarter worth about $2,081,000. Assenagon Asset Management S.A. increased its stake in Armstrong World Industries by 107.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after acquiring an additional 33,290 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Armstrong World Industries during the 1st quarter worth approximately $3,097,000. Duality Advisers LP bought a new position in shares of Armstrong World Industries during the 1st quarter valued at approximately $1,150,000. Finally, Sei Investments Co. boosted its position in shares of Armstrong World Industries by 185.3% during the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after acquiring an additional 33,927 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AWI. Evercore ISI upped their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Loop Capital increased their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Jefferies Financial Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Up 3.5 %

Shares of NYSE:AWI opened at $148.03 on Wednesday. The firm has a market capitalization of $6.45 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The business has a 50 day simple moving average of $132.26 and a two-hundred day simple moving average of $123.00. Armstrong World Industries, Inc. has a 1 year low of $79.39 and a 1 year high of $149.14. 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 (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.60 EPS. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.19 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s payout ratio is currently 21.69%.

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.