Charles Schwab Investment Management Inc. Increases Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Charles Schwab Investment Management Inc. increased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 472,300 shares of the construction company’s stock after acquiring an additional 18,333 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.08% of Armstrong World Industries worth $62,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new position in shares of Armstrong World Industries during the third quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in Armstrong World Industries in the 3rd quarter worth $31,000. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 89 shares during the last quarter. 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. Finally, First Horizon Advisors Inc. increased its position in shares of Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AWI has been the subject of a number of recent analyst reports. UBS Group raised their price objective 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. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial lifted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on shares of 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. Finally, Loop Capital raised their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $159.90 on Friday. The company has a market cap of $6.97 billion, a PE ratio of 28.35, a P/E/G ratio of 2.05 and a beta of 1.13. Armstrong World Industries, Inc. has a 12 month low of $83.59 and a 12 month high of $164.40. The company has a fifty day moving average price of $143.22 and a two-hundred day moving average price of $127.84. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

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

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.