Argent Trust Co Purchases 217 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Argent Trust Co increased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,628 shares of the construction company’s stock after acquiring an additional 217 shares during the quarter. Argent Trust Co’s holdings in Armstrong World Industries were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AWI. Janney Montgomery Scott LLC increased its stake in shares of Armstrong World Industries by 142.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,440 shares of the construction company’s stock worth $1,223,000 after purchasing an additional 7,317 shares during the period. Norges Bank acquired a new position in shares of Armstrong World Industries during the fourth quarter worth approximately $42,297,000. Corient Private Wealth LLC boosted its position in shares of Armstrong World Industries by 6.4% in the fourth quarter. Corient Private Wealth LLC now owns 14,088 shares of the construction company’s stock valued at $1,385,000 after acquiring an additional 842 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Armstrong World Industries in the fourth quarter worth $1,639,000. Finally, Chesapeake Capital Corp IL bought a new position in Armstrong World Industries during the fourth quarter worth $918,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Trading Down 0.4 %

NYSE:AWI opened at $131.30 on Friday. Armstrong World Industries, Inc. has a twelve month low of $68.35 and a twelve month high of $134.90. The business has a 50 day moving average price of $124.26 and a two-hundred day moving average price of $119.60. The company has a market cap of $5.75 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97.

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

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.28 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.85%. Armstrong World Industries’s payout ratio is 21.05%.

Analyst Ratings Changes

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