SpiderRock Advisors LLC Purchases Shares of 7,336 Armstrong World Industries, Inc. (NYSE:AWI)

SpiderRock Advisors LLC purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,336 shares of the construction company's stock, valued at approximately $964,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. purchased a new position in Armstrong World Industries during the 1st quarter valued at $2,081,000. Assenagon Asset Management S.A. increased its position in shares of Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company's stock worth $7,283,000 after purchasing an additional 33,290 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Armstrong World Industries by 185.3% during the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company's stock valued at $6,489,000 after purchasing an additional 33,927 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Armstrong World Industries during the 1st quarter worth $938,000. Finally, Redwood Investment Management LLC purchased a new stake in shares of Armstrong World Industries during the first quarter worth about $1,501,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Loop Capital raised their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Evercore ISI upped their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, August 20th. Four 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, the stock has an average rating of "Hold" and an average target price of $140.83.

Armstrong World Industries Stock Up 1.1 %

Shares of NYSE AWI traded up $1.70 on Monday, hitting $155.40. The company had a trading volume of 75,103 shares, compared to its average volume of 309,393. The firm has a market capitalization of $6.77 billion, a P/E ratio of 27.11, a PEG ratio of 1.96 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 12-month low of $80.14 and a 12-month high of $156.38. The business has a 50 day moving average of $134.39 and a two-hundred day moving average of $124.04.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same quarter last year, the firm earned $1.60 EPS. Armstrong World Industries's quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.308 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.79%. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. Armstrong World Industries's dividend payout ratio (DPR) is currently 19.75%.

Armstrong World Industries Company 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.