Raymond James Financial Inc. Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Raymond James Financial Inc. purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 59,258 shares of the construction company’s stock, valued at approximately $8,375,000. Raymond James Financial Inc. owned about 0.14% of Armstrong World Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AWI. State Street Corp increased its stake in shares of Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after acquiring an additional 51,839 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after acquiring an additional 34,028 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Armstrong World Industries by 11.0% in the 4th quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company’s stock valued at $43,914,000 after acquiring an additional 30,878 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Armstrong World Industries by 166.2% in the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock valued at $6,417,000 after acquiring an additional 30,570 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Armstrong World Industries by 230.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock valued at $5,708,000 after acquiring an additional 30,273 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Price Performance

NYSE AWI opened at $140.88 on Friday. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The business has a 50 day simple moving average of $148.54 and a 200 day simple moving average of $144.68. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.60 and a beta of 1.25.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. During the same quarter in the prior year, the firm posted $1.22 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 20.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. UBS Group increased their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Truist Financial increased their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and an average price target of $153.33.

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.