Raymond James Financial Inc. Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Raymond James Financial Inc. acquired a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,258 shares of the construction company's stock, valued at approximately $8,375,000. Raymond James Financial Inc. owned approximately 0.14% of Armstrong World Industries as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in Armstrong World Industries by 25.4% during the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock valued at $71,773,000 after buying an additional 102,895 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Armstrong World Industries by 1.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 335,362 shares of the construction company's stock valued at $47,397,000 after acquiring an additional 3,854 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Armstrong World Industries by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 245,766 shares of the construction company's stock valued at $34,734,000 after purchasing an additional 5,566 shares in the last quarter. Geode Capital Management LLC increased its position in Armstrong World Industries by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Armstrong World Industries by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 28,478 shares of the construction company's stock valued at $4,025,000 after purchasing an additional 5,496 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Trading Up 1.9 %

Shares of NYSE AWI opened at $132.58 on Wednesday. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.60 and a beta of 1.20. The business's 50 day moving average price is $141.86 and its 200-day moving average price is $145.83.

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

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.308 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a yield of 0.93%. Armstrong World Industries's dividend payout ratio is currently 20.40%.

Analyst Upgrades and Downgrades

AWI has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group upped their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Truist Financial lifted their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average 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.

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