Armstrong World Industries, Inc. (NYSE:AWI) Stock Position Raised by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 53.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,982 shares of the construction company's stock after purchasing an additional 7,958 shares during the period. Franklin Resources Inc. owned about 0.05% of Armstrong World Industries worth $3,175,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in Armstrong World Industries by 4.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company's stock worth $245,000 after buying an additional 76 shares during the last quarter. Blue Trust Inc. lifted its stake in Armstrong World Industries by 5.9% during the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company's stock worth $188,000 after purchasing an additional 79 shares during the last quarter. US Bancorp DE boosted 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. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 89 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Armstrong World Industries by 3.6% during the third quarter. Verdence Capital Advisors LLC now owns 3,033 shares of the construction company's stock worth $399,000 after purchasing an additional 104 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of NYSE AWI traded up $0.35 during midday trading on Thursday, reaching $145.07. The company's stock had a trading volume of 109,235 shares, compared to its average volume of 293,527. Armstrong World Industries, Inc. has a one year low of $95.24 and a one year high of $164.40. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The company has a 50 day moving average price of $150.30 and a 200 day moving average price of $132.93. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. On average, equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.85%. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. Armstrong World Industries's dividend payout ratio (DPR) is currently 21.69%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial increased 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. Jefferies Financial Group raised their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective on 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. Loop Capital increased their target price 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. Finally, UBS Group boosted 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. Four investment 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, Armstrong World Industries presently has a consensus rating of "Hold" and an average price target of $140.83.

Armstrong World Industries Profile

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.