Ieq Capital LLC Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Ieq Capital LLC purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,549 shares of the construction company's stock, valued at approximately $502,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AWI. Creative Planning lifted its holdings in shares of Armstrong World Industries by 7.3% in the third quarter. Creative Planning now owns 2,079 shares of the construction company's stock valued at $273,000 after purchasing an additional 141 shares in the last quarter. Ballentine Partners LLC acquired a new position in Armstrong World Industries during the third quarter valued at $227,000. First Trust Direct Indexing L.P. purchased a new stake in Armstrong World Industries in the 3rd quarter worth about $244,000. US Bancorp DE boosted its position in Armstrong World Industries by 13.9% during the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company's stock worth $88,000 after acquiring an additional 82 shares during the period. Finally, Van ECK Associates Corp grew its stake in Armstrong World Industries by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 29,543 shares of the construction company's stock valued at $4,082,000 after acquiring an additional 8,441 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Stock Up 1.5 %

NYSE AWI traded up $2.25 during trading on Friday, reaching $153.44. The company's stock had a trading volume of 257,512 shares, compared to its average volume of 238,303. 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 capitalization of $6.69 billion, a PE ratio of 27.06, a PEG ratio of 1.60 and a beta of 1.19. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The business has a 50-day moving average price of $148.07 and a 200-day moving average price of $142.57.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.13. The business had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. On average, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries's dividend payout ratio is 20.40%.

Analyst Ratings Changes

A number of analysts have recently issued reports on AWI shares. Truist Financial increased their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday. StockNews.com downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group lifted their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Armstrong World Industries has a consensus rating of "Hold" and an average price target of $153.33.

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.