Burgundy Asset Management Ltd. Boosts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Burgundy Asset Management Ltd. lifted its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,151,442 shares of the construction company's stock after acquiring an additional 17,075 shares during the period. Burgundy Asset Management Ltd. owned 2.63% of Armstrong World Industries worth $130,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Armstrong World Industries by 56.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company's stock worth $155,991,000 after buying an additional 569,824 shares in the last quarter. Vanguard Group Inc. raised its holdings in Armstrong World Industries by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company's stock valued at $468,315,000 after acquiring an additional 517,699 shares during the last quarter. Norges Bank acquired a new stake in Armstrong World Industries in the 4th quarter valued at about $42,297,000. Los Angeles Capital Management LLC purchased a new position in Armstrong World Industries in the 1st quarter worth approximately $39,183,000. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Armstrong World Industries by 1,369.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company's stock worth $27,872,000 after purchasing an additional 229,378 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore ISI increased their price target on Armstrong World Industries from $119.00 to $127.00 and gave the company an "in-line" rating in a report on Wednesday, July 31st. UBS Group raised their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, August 20th. Finally, Truist Financial upped their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $135.75.

Armstrong World Industries Trading Up 2.3 %

NYSE:AWI traded up $3.02 on Thursday, reaching $131.84. The company's stock had a trading volume of 161,037 shares, compared to its average volume of 323,982. Armstrong World Industries, Inc. has a 12-month low of $68.35 and a 12-month high of $134.90. The stock has a 50 day moving average price of $123.99 and a 200 day moving average price of $119.51. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. The firm had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. Armstrong World Industries's revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 EPS. On average, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.85%. Armstrong World Industries's payout ratio is currently 21.05%.

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.