Van ECK Associates Corp Grows Position in Armstrong World Industries, Inc. (NYSE:AWI)

Van ECK Associates Corp lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 40.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,543 shares of the construction company's stock after buying an additional 8,441 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Armstrong World Industries worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of AWI. US Bancorp DE grew its holdings in Armstrong World Industries by 13.9% in the third quarter. US Bancorp DE now owns 672 shares of the construction company's stock worth $88,000 after purchasing an additional 82 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $244,000. Custom Index Systems LLC bought a new position in Armstrong World Industries during the 3rd quarter valued at approximately $423,000. Ballentine Partners LLC purchased a new position in Armstrong World Industries during the third quarter valued at $227,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Armstrong World Industries in the third quarter worth $192,000. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $1.18 during midday trading on Friday, hitting $153.70. 321,417 shares of the company's stock traded hands, compared to its average volume of 310,473. The firm has a fifty day moving average of $134.39 and a 200 day moving average of $123.93. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.82 and a beta of 1.13. Armstrong World Industries, Inc. has a 1 year low of $79.39 and a 1 year high of $154.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to analysts' expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 earnings per share. On average, analysts forecast that Armstrong World Industries, Inc. will post 6.19 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. Armstrong World Industries's dividend payout ratio (DPR) is presently 21.69%.

Analyst Upgrades and Downgrades

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

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.