Algert Global LLC Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Algert Global LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,931 shares of the construction company's stock, valued at approximately $1,011,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its holdings in Armstrong World Industries by 29.9% during the second quarter. Mackenzie Financial Corp now owns 3,117 shares of the construction company's stock worth $353,000 after acquiring an additional 718 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Armstrong World Industries by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,161 shares of the construction company's stock valued at $1,037,000 after purchasing an additional 610 shares in the last quarter. Millennium Management LLC grew its stake in shares of Armstrong World Industries by 252.5% in the 2nd quarter. Millennium Management LLC now owns 55,078 shares of the construction company's stock worth $6,237,000 after purchasing an additional 39,452 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Armstrong World Industries by 13.5% in the 2nd quarter. AQR Capital Management LLC now owns 115,300 shares of the construction company's stock worth $13,057,000 after purchasing an additional 13,687 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Armstrong World Industries by 171.0% during the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company's stock valued at $14,263,000 after purchasing an additional 79,475 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Up 0.6 %

AWI stock traded up $0.87 during midday trading on Friday, reaching $134.74. The company had a trading volume of 201,374 shares, compared to its average volume of 317,777. Armstrong World Industries, Inc. has a 1 year low of $68.35 and a 1 year high of $136.22. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $5.90 billion, a P/E ratio of 25.33, a PEG ratio of 1.88 and a beta of 1.14. The company has a 50 day moving average of $126.10 and a two-hundred day moving average of $120.42.

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

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.28 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.83%. Armstrong World Industries's payout ratio is presently 21.05%.

Analyst Ratings Changes

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

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.