Empowered Funds LLC Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Empowered Funds LLC purchased a new position in Armstrong World Industries, Inc. (NYSE:AWI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,492 shares of the construction company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AWI. CWM LLC increased its position in Armstrong World Industries by 64.3% in the third quarter. CWM LLC now owns 1,058 shares of the construction company’s stock worth $139,000 after buying an additional 414 shares in the last quarter. Creative Planning grew its position in shares of Armstrong World Industries by 7.3% during the third quarter. Creative Planning now owns 2,079 shares of the construction company’s stock worth $273,000 after purchasing an additional 141 shares in the last quarter. Blue Trust Inc. grew its position in shares of Armstrong World Industries by 5.9% during the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock worth $188,000 after purchasing an additional 79 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Armstrong World Industries by 48.6% during the third quarter. Assenagon Asset Management S.A. now owns 95,567 shares of the construction company’s stock worth $12,560,000 after purchasing an additional 31,251 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Armstrong World Industries during the third quarter worth about $192,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

AWI has been the subject of several research analyst reports. UBS Group increased their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial increased their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their price target 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $142.60.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $146.72 on Friday. The stock has a 50 day moving average of $147.60 and a 200 day moving average of $141.32. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The firm has a market cap of $6.40 billion, a PE ratio of 25.88, a PEG ratio of 1.65 and a beta of 1.19. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s payout ratio 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.