Verition Fund Management LLC Buys New Shares in Armstrong World Industries, Inc. (NYSE:AWI)

Verition Fund Management LLC purchased a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,877 shares of the construction company’s stock, valued at approximately $1,035,000.

A number of other hedge funds have also recently bought and sold shares of AWI. Jupiter Asset Management Ltd. raised its stake in shares of Armstrong World Industries by 1,369.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after purchasing an additional 229,378 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after buying an additional 145,133 shares during the last quarter. Natixis Advisors LLC lifted its stake in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after acquiring an additional 110,111 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after acquiring an additional 79,475 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Armstrong World Industries by 27.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after purchasing an additional 67,954 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Loop Capital increased their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $157.78 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $6.88 billion, a PE ratio of 27.83, a PEG ratio of 2.04 and a beta of 1.15. The firm has a 50 day moving average of $146.54 and a 200-day moving average of $129.86. Armstrong World Industries, Inc. has a 12 month low of $90.93 and a 12 month high of $164.40.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.60 EPS. On average, equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is 21.69%.

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.