Verition Fund Management LLC Purchases New Position in Armstrong World Industries, Inc. (NYSE:AWI)

Verition Fund Management LLC bought a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,877 shares of the construction company's stock, valued at approximately $1,035,000.

Several other institutional investors also recently bought and sold shares of AWI. Transcendent Capital Group LLC purchased a new stake in shares of Armstrong World Industries during the 3rd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in Armstrong World Industries during the 3rd quarter valued at about $31,000. Allspring Global Investments Holdings LLC raised its stake in Armstrong World Industries by 41.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company's stock valued at $35,000 after buying an additional 89 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company's stock worth $57,000 after acquiring an additional 125 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company's stock worth $58,000 after acquiring an additional 153 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AWI. Loop Capital increased their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. 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 report on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Finally, Truist Financial boosted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $140.83.

Armstrong World Industries Stock Performance

NYSE AWI traded down $1.56 on Monday, reaching $156.22. 154,129 shares of the company's stock traded hands, compared to its average volume of 298,231. The stock has a 50 day moving average price of $147.04 and a 200-day moving average price of $130.15. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 2.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries, Inc. has a fifty-two week low of $92.29 and a fifty-two week high of $164.40.

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 (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to analysts' expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. Equities research 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 paid a dividend of $0.308 per share. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.79%. Armstrong World Industries's dividend payout ratio (DPR) is presently 21.69%.

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.