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

Raymond James Financial Inc. bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 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.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tealwood Asset Management Inc. grew its holdings in Armstrong World Industries by 0.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company's stock worth $1,313,000 after acquiring an additional 71 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Armstrong World Industries by 4.3% during 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. Arizona State Retirement System boosted its position in Armstrong World Industries by 0.7% in the 4th quarter. Arizona State Retirement System now owns 12,683 shares of the construction company's stock valued at $1,792,000 after buying an additional 82 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Armstrong World Industries by 6.7% in the 4th quarter. Blue Trust Inc. now owns 1,523 shares of the construction company's stock valued at $215,000 after buying an additional 95 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Armstrong World Industries by 1.7% during the fourth quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company's stock worth $865,000 after acquiring an additional 97 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

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Armstrong World Industries Trading Down 1.0 %

NYSE AWI traded down $1.53 during trading on Wednesday, reaching $144.48. 249,680 shares of the stock traded hands, compared to its average volume of 265,921. The stock's 50-day moving average price is $148.60 and its 200 day moving average price is $145.17. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40.

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

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.308 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.85%. Armstrong World Industries's dividend payout ratio is presently 20.40%.

Wall Street Analysts Forecast Growth

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