Bank of Montreal Can Grows Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Bank of Montreal Can increased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 166.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,963 shares of the construction company's stock after purchasing an additional 30,570 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Armstrong World Industries worth $6,417,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Burgundy Asset Management Ltd. boosted its stake in shares of Armstrong World Industries by 1.5% during the second quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company's stock valued at $130,389,000 after purchasing an additional 17,075 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in Armstrong World Industries by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company's stock valued at $82,168,000 after acquiring an additional 14,450 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company's stock valued at $64,678,000 after acquiring an additional 67,798 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Armstrong World Industries by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company's stock worth $62,074,000 after acquiring an additional 18,333 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Armstrong World Industries by 46.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company's stock worth $52,155,000 after purchasing an additional 145,133 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $0.16 during midday trading on Tuesday, reaching $159.30. The company had a trading volume of 181,753 shares, compared to its average volume of 188,173. Armstrong World Industries, Inc. has a 1 year low of $89.87 and a 1 year high of $164.40. The business's 50-day simple moving average is $144.32 and its 200 day simple moving average is $128.61. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.94 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.03 and a beta of 1.15.

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 company 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 firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on AWI. Evercore ISI boosted their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. UBS Group upped their price target 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, Loop Capital raised their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of "Hold" and a consensus 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.