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
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
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.
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