Raymond James & Associates Acquires 790 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Raymond James & Associates increased its holdings in Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,240 shares of the construction company’s stock after buying an additional 790 shares during the period. Raymond James & Associates’ holdings in Armstrong World Industries were worth $6,670,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in Armstrong World Industries in the second quarter worth approximately $38,000. Bessemer Group Inc. increased its position in Armstrong World Industries by 32.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,029 shares of the construction company’s stock valued at $82,000 after buying an additional 251 shares in the last quarter. Covestor Ltd increased its position in Armstrong World Industries by 89.9% during the 1st quarter. Covestor Ltd now owns 1,272 shares of the construction company’s stock valued at $115,000 after buying an additional 602 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $178,000. Finally, Guggenheim Capital LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $207,000.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AWI shares. Truist Financial cut their price objective on Armstrong World Industries from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $100.00 target price on shares of Armstrong World Industries in a report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Armstrong World Industries from $77.00 to $78.00 in a report on Wednesday, April 26th. Bank of America dropped their target price on Armstrong World Industries from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Finally, StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $83.63.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $65.50 on Friday. The company has a market capitalization of $2.96 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.62 and a beta of 1.11. The business’s 50 day moving average is $68.48 and its two-hundred day moving average is $72.75. The company has a current ratio of 2.18, a quick ratio of 1.49 and a debt-to-equity ratio of 1.24. Armstrong World Industries, Inc. has a 12-month low of $63.35 and a 12-month high of $94.94.

Armstrong World Industries (NYSE:AWI – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $310.20 million for the quarter, compared to the consensus estimate of $310.86 million. Armstrong World Industries had a return on equity of 41.94% and a net margin of 16.32%. Armstrong World Industries’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 earnings per share. Analysts expect that Armstrong World Industries, Inc. will post 4.86 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were given a $0.254 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.55%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 22.82%.

Armstrong World Industries Company Profile

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Armstrong World Industries, Inc engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Mineral Fiber, Architectural Specialties, and Unallocated Corporate. The Mineral Fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings.