Inspire Investing LLC Buys 243 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Inspire Investing LLC grew its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,118 shares of the construction company’s stock after buying an additional 243 shares during the period. Inspire Investing LLC’s holdings in Armstrong World Industries were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in Armstrong World Industries by 142.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 12,440 shares of the construction company’s stock worth $1,223,000 after acquiring an additional 7,317 shares during the last quarter. Norges Bank acquired a new position in shares of Armstrong World Industries in the 4th quarter valued at $42,297,000. Corient Private Wealth LLC increased its position in shares of Armstrong World Industries by 6.4% in the 4th quarter. Corient Private Wealth LLC now owns 14,088 shares of the construction company’s stock valued at $1,385,000 after buying an additional 842 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Armstrong World Industries during the 4th quarter worth $1,639,000. Finally, Chesapeake Capital Corp IL bought a new position in Armstrong World Industries during the fourth quarter worth about $918,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of AWI opened at $131.30 on Monday. 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, Inc. has a twelve month low of $68.35 and a twelve month high of $134.90. The stock has a market capitalization of $5.75 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.73 and a beta of 1.14. The company has a 50 day moving average of $124.53 and a 200-day moving average of $119.65.

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

Armstrong World Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AWI shares. Truist Financial increased their price target on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. 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. Finally, Evercore ISI upped 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average target price of $135.75.

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.