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

Posted by MarketBeat News on Aug 6th, 2022

Envestnet Asset Management Inc. grew its holdings in Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 1.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 136,032 shares of the construction company’s stock after acquiring an additional 2,499 shares during the period. Envestnet Asset Management Inc.’s holdings in Armstrong World Industries were worth $12,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AWI. Janney Montgomery Scott LLC grew its stake in shares of Armstrong World Industries by 3.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,765 shares of the construction company’s stock worth $669,000 after buying an additional 211 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Armstrong World Industries by 10.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,069 shares of the construction company’s stock worth $356,000 after acquiring an additional 290 shares during the last quarter. CWM LLC bought a new stake in shares of Armstrong World Industries in the 4th quarter worth about $28,000. Qube Research & Technologies Ltd lifted its holdings in shares of Armstrong World Industries by 50.7% in the 4th quarter. Qube Research & Technologies Ltd now owns 46,776 shares of the construction company’s stock worth $5,432,000 after acquiring an additional 15,744 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Armstrong World Industries by 20.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,041 shares of the construction company’s stock worth $701,000 after acquiring an additional 1,022 shares during the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Trading Down 0.6 %

NYSE AWI opened at $88.18 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.14 and a current ratio of 1.66. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company’s 50-day simple moving average is $81.05 and its two-hundred day simple moving average is $87.55. Armstrong World Industries, Inc. has a one year low of $73.25 and a one year high of $118.14.

Armstrong World Industries (NYSE:AWI – Get Rating) last posted its earnings results on Tuesday, July 26th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.09). The business had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $317.19 million. Armstrong World Industries had a net margin of 16.07% and a return on equity of 41.11%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Equities analysts forecast that Armstrong World Industries, Inc. will post 5.12 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be given a $0.231 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 3rd. Armstrong World Industries’s payout ratio is currently 23.06%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AWI. Loop Capital upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Wednesday, June 15th. They noted that the move was a valuation call. The Goldman Sachs Group upgraded shares of Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday, July 13th. UBS Group lowered their target price on shares of Armstrong World Industries from $86.00 to $82.00 and set a “sell” rating for the company in a report on Wednesday, July 27th. Truist Financial decreased their price objective on shares of Armstrong World Industries from $124.00 to $110.00 in a report on Wednesday, April 27th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.44.

About Armstrong World Industries

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Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.