59,258 Shares in Armstrong World Industries, Inc. (NYSE:AWI) Acquired by Raymond James Financial Inc.

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

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Armstrong World Industries by 230.1% during the third quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company's stock worth $5,708,000 after purchasing an additional 30,273 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Armstrong World Industries by 4.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company's stock worth $245,000 after buying an additional 76 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Armstrong World Industries by 25.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company's stock worth $83,000 after buying an additional 130 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Armstrong World Industries by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company's stock valued at $62,074,000 after buying an additional 18,333 shares in the last quarter. Finally, Citigroup Inc. grew its position in Armstrong World Industries by 7.3% in the third quarter. Citigroup Inc. now owns 32,697 shares of the construction company's stock valued at $4,297,000 after acquiring an additional 2,215 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

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

Armstrong World Industries Price Performance

AWI traded down $0.09 during midday trading on Tuesday, hitting $145.96. The company had a trading volume of 149,094 shares, compared to its average volume of 266,476. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The company has a market capitalization of $6.34 billion, a PE ratio of 25.74, a P/E/G ratio of 1.60 and a beta of 1.25. 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 firm's 50-day simple moving average is $148.60 and its 200-day simple moving average is $145.17.

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

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries's dividend payout ratio is 20.40%.

Armstrong World Industries Profile

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.