Armstrong World Industries, Inc. (NYSE:AWI) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 7.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 32,697 shares of the construction company’s stock after buying an additional 2,215 shares during the period. Citigroup Inc. owned 0.08% of Armstrong World Industries worth $4,297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AWI. Charles Schwab Investment Management Inc. raised its holdings in Armstrong World Industries by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Armstrong World Industries by 25.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company’s stock valued at $83,000 after acquiring an additional 130 shares during the period. Quest Partners LLC raised its stake in shares of Armstrong World Industries by 32.9% in the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock valued at $2,625,000 after acquiring an additional 4,945 shares during the period. Thrivent Financial for Lutherans increased its stake in Armstrong World Industries by 3.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 133,383 shares of the construction company’s stock worth $17,530,000 after buying an additional 4,334 shares during the period. Finally, Chesapeake Capital Corp IL increased its stake in Armstrong World Industries by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 4,314 shares of the construction company’s stock worth $565,000 after buying an additional 941 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AWI has been the subject of several research reports. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Evercore ISI boosted their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $159.30 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 1-year low of $89.87 and a 1-year high of $164.40. The firm has a fifty day simple moving average of $144.32 and a 200-day simple moving average of $128.61. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.03 and a beta of 1.15.

Armstrong World Industries (NYSE:AWI) last announced 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 business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the company posted $1.60 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.308 per share. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.77%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 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.