Algert Global LLC Purchases Shares of 8,931 Armstrong World Industries, Inc. (NYSE:AWI)

Algert Global LLC acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,931 shares of the construction company’s stock, valued at approximately $1,011,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Mackenzie Financial Corp raised its holdings in shares of Armstrong World Industries by 29.9% in the 2nd quarter. Mackenzie Financial Corp now owns 3,117 shares of the construction company’s stock valued at $353,000 after buying an additional 718 shares during the period. The Manufacturers Life Insurance Company grew its position in Armstrong World Industries by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,161 shares of the construction company’s stock valued at $1,037,000 after acquiring an additional 610 shares in the last quarter. Millennium Management LLC increased its stake in Armstrong World Industries by 252.5% during the second quarter. Millennium Management LLC now owns 55,078 shares of the construction company’s stock worth $6,237,000 after purchasing an additional 39,452 shares during the period. AQR Capital Management LLC lifted its position in shares of Armstrong World Industries by 13.5% during the second quarter. AQR Capital Management LLC now owns 115,300 shares of the construction company’s stock worth $13,057,000 after purchasing an additional 13,687 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Armstrong World Industries by 171.0% in the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after purchasing an additional 79,475 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $134.73 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $126.03 and a 200-day simple moving average of $120.33. The stock has a market cap of $5.90 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. Armstrong World Industries, Inc. has a 12-month low of $68.35 and a 12-month high of $136.22.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. During the same period in the previous year, the business earned $1.38 EPS. Armstrong World Industries’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts expect that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders 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 dividend on an annualized basis and a yield of 0.83%. Armstrong World Industries’s payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AWI. Evercore ISI increased 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 report on Wednesday, July 31st. Truist Financial upped their price objective on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group lifted their target price on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company 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.