Victory Capital Management Inc. Acquires 30,273 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Victory Capital Management Inc. boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 230.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,430 shares of the construction company's stock after purchasing an additional 30,273 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Armstrong World Industries worth $5,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AWI. Transcendent Capital Group LLC bought a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new position in Armstrong World Industries during the third quarter valued at $31,000. Allspring Global Investments Holdings LLC raised its stake in Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company's stock valued at $35,000 after buying an additional 89 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company's stock worth $58,000 after acquiring an additional 153 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company's stock valued at $57,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

NYSE:AWI traded up $1.99 during mid-day trading on Friday, hitting $159.08. 175,419 shares of the company traded hands, compared to its average volume of 239,282. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock's fifty day moving average price is $140.65 and its 200-day moving average price is $126.68. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13. Armstrong World Industries, Inc. has a one year low of $82.63 and a one year high of $159.66.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same period in the previous year, the company posted $1.60 EPS. The firm's revenue was up 11.3% on a year-over-year basis. Research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.308 dividend. The ex-dividend date was Thursday, November 7th. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. Armstrong World Industries's dividend payout ratio is 21.69%.

Analyst Ratings Changes

AWI has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Loop Capital increased their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Evercore ISI upped their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. UBS Group raised their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.