Armstrong World Industries, Inc. (NYSE:AWI) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 230.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,430 shares of the construction company’s stock after purchasing an additional 30,273 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Armstrong World Industries worth $5,708,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AWI. Transcendent Capital Group LLC acquired a new stake in Armstrong World Industries in the 3rd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in Armstrong World Industries in the 3rd quarter valued at $31,000. Allspring Global Investments Holdings LLC increased its holdings in Armstrong World Industries by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Armstrong World Industries by 33.0% in the 2nd 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 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 valued at $58,000 after acquiring an additional 153 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI raised their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Loop Capital raised their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group raised their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $159.07 on Friday. 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 one year low of $82.63 and a one year high of $159.66. The company’s 50-day simple moving average is $140.65 and its 200-day simple moving average is $126.61. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.96 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the company posted $1.60 earnings per share. Armstrong World Industries’s revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 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.