State Street Corp Has $191.12 Million Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

State Street Corp grew its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,454,150 shares of the construction company's stock after buying an additional 51,839 shares during the quarter. State Street Corp owned approximately 3.34% of Armstrong World Industries worth $191,119,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AWI. Transcendent Capital Group LLC purchased a new stake in shares of Armstrong World Industries in the third quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in Armstrong World Industries in the 3rd quarter worth about $31,000. Allspring Global Investments Holdings LLC boosted its position in Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company's stock worth $35,000 after acquiring an additional 89 shares during the period. Point72 DIFC Ltd purchased a new position in Armstrong World Industries during the 3rd quarter valued at about $47,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company's stock valued at $57,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Loop Capital boosted their target price 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Armstrong World Industries currently has a consensus rating of "Hold" and an average price target of $140.83.

Armstrong World Industries Stock Performance

Shares of AWI stock traded down $1.66 during trading hours on Friday, reaching $153.65. 205,546 shares of the company's stock were exchanged, compared to its average volume of 296,129. The business has a fifty day moving average price of $148.73 and a 200-day moving average price of $131.03. The stock has a market capitalization of $6.70 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.01 and a beta of 1.15. 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 fifty-two week low of $95.24 and a fifty-two week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the business posted $1.60 EPS. The business's quarterly revenue was up 11.3% on a year-over-year basis. Analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, November 7th. This is a positive change from Armstrong World Industries's previous quarterly dividend of $0.28. Armstrong World Industries's dividend payout ratio (DPR) is presently 21.69%.

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.