Burgundy Asset Management Ltd. Purchases 17,075 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Burgundy Asset Management Ltd. raised its position in Armstrong World Industries, Inc. (NYSE:AWI) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,151,442 shares of the construction company’s stock after acquiring an additional 17,075 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 2.63% of Armstrong World Industries worth $130,389,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in Armstrong World Industries during the first quarter valued at approximately $27,000. UMB Bank n.a. raised its holdings in Armstrong World Industries by 67.3% in the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after purchasing an additional 105 shares during the period. YHB Investment Advisors Inc. purchased a new position in Armstrong World Industries during the first quarter valued at $52,000. First Horizon Advisors Inc. grew its holdings in Armstrong World Industries by 33.0% during the second 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. Finally, CWM LLC raised its stake in shares of Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after buying an additional 95 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Performance

Shares of NYSE AWI opened at $128.82 on Thursday. The company has a market cap of $5.64 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.73 and a beta of 1.14. Armstrong World Industries, Inc. has a 52-week low of $68.35 and a 52-week high of $134.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The firm’s fifty day moving average is $123.69 and its two-hundred day moving average is $119.45.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. As a group, analysts anticipate that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.87%. Armstrong World Industries’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analyst Weigh In

A number of research firms have commented on AWI. Evercore ISI raised their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. Truist Financial lifted their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group increased their price target on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.75.

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.