Principal Securities Inc. Increases Position in Armstrong World Industries, Inc. (NYSE:AWI)

Principal Securities Inc. lifted its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,751 shares of the construction company’s stock after buying an additional 274 shares during the period. Principal Securities Inc.’s holdings in Armstrong World Industries were worth $389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AWI. Natixis Advisors LLC raised its stake in Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares during the period. State Street Corp raised its stake in Armstrong World Industries by 3.7% during the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after purchasing an additional 51,839 shares during the period. Geode Capital Management LLC raised its stake in Armstrong World Industries by 4.2% during the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares during the period. Assenagon Asset Management S.A. raised its stake in 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 during the period. Finally, Bank of Montreal Can raised its stake in Armstrong World Industries by 166.2% during the third quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock worth $6,417,000 after purchasing an additional 30,570 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AWI. Loop Capital increased 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 note on Wednesday, October 30th. UBS Group increased their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI increased 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 note on Wednesday, October 30th. Truist Financial raised their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $142.60.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $146.72 on Friday. The company’s fifty day simple moving average is $147.60 and its 200-day simple moving average is $141.46. The company has a market cap of $6.40 billion, a PE ratio of 25.88, a P/E/G ratio of 1.62 and a beta of 1.19. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40. 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 issued 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 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.