Amalgamated Bank Buys 14,435 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Amalgamated Bank grew its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 189.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,038 shares of the construction company’s stock after buying an additional 14,435 shares during the period. Amalgamated Bank’s holdings in Armstrong World Industries were worth $2,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AWI. Yousif Capital Management LLC bought a new position in Armstrong World Industries in the 4th quarter worth about $2,190,000. Mutual of America Capital Management LLC bought a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $760,000. Dark Forest Capital Management LP purchased a new stake in Armstrong World Industries in the third quarter valued at approximately $1,630,000. Savant Capital LLC lifted its position in Armstrong World Industries by 24.3% during the fourth quarter. Savant Capital LLC now owns 7,247 shares of the construction company’s stock valued at $713,000 after purchasing an additional 1,419 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Armstrong World Industries by 211.3% in the 4th quarter. State of Alaska Department of Revenue now owns 40,042 shares of the construction company’s stock worth $3,936,000 after buying an additional 27,179 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AWI has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Truist Financial boosted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Evercore ISI raised their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and an average price target of $110.17.

Armstrong World Industries Price Performance

AWI opened at $117.60 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.79. The stock has a market capitalization of $5.15 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The stock’s 50 day moving average price is $119.48 and its 200-day moving average price is $104.13. Armstrong World Industries, Inc. has a 52-week low of $62.03 and a 52-week high of $125.56.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The business had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $319.44 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Armstrong World Industries, Inc. will post 5.89 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s payout ratio is 21.05%.

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.