HighTower Advisors LLC Acquires 8,763 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

HighTower Advisors LLC increased its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,493 shares of the construction company's stock after purchasing an additional 8,763 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of Armstrong World Industries worth $3,462,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Armstrong World Industries during the 4th quarter worth about $8,375,000. State Street Corp lifted its stake in shares of Armstrong World Industries by 3.7% in the third quarter. State Street Corp now owns 1,454,150 shares of the construction company's stock worth $191,119,000 after acquiring an additional 51,839 shares during the period. Geode Capital Management LLC boosted its holdings in Armstrong World Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock valued at $111,954,000 after acquiring an additional 34,028 shares during the last quarter. Allianz Asset Management GmbH increased its position in Armstrong World Industries by 11.0% during the 4th quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company's stock valued at $43,914,000 after purchasing an additional 30,878 shares during the period. Finally, Bank of Montreal Can raised its holdings in Armstrong World Industries by 166.2% during the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company's stock worth $6,417,000 after purchasing an additional 30,570 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

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Analyst Ratings Changes

AWI has been the subject of several recent analyst reports. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $153.33.

Armstrong World Industries Stock Up 3.3 %

Shares of AWI stock traded up $4.67 on Monday, reaching $145.73. 391,014 shares of the company were exchanged, compared to its average volume of 266,820. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a 50-day moving average of $148.54 and a 200-day moving average of $144.83. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. During the same period in the prior year, the business earned $1.22 EPS. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. Analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a yield of 0.85%. Armstrong World Industries's dividend payout ratio (DPR) is presently 20.40%.

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.