Envestnet Asset Management Inc. Has $35.39 Million Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Asset Management Inc. raised its position in Armstrong World Industries, Inc. (NYSE:AWI) by 27.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 312,475 shares of the construction company’s stock after acquiring an additional 67,954 shares during the period. Envestnet Asset Management Inc. owned about 0.71% of Armstrong World Industries worth $35,385,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AWI. Oppenheimer Asset Management Inc. increased its holdings in Armstrong World Industries by 15.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,923 shares of the construction company’s stock valued at $1,124,000 after buying an additional 1,361 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Armstrong World Industries in the second quarter valued at about $129,000. Jupiter Asset Management Ltd. raised its position in Armstrong World Industries by 1,369.3% in the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after purchasing an additional 229,378 shares in the last quarter. American Century Companies Inc. lifted its stake in Armstrong World Industries by 13.0% during the second quarter. American Century Companies Inc. now owns 76,945 shares of the construction company’s stock worth $8,713,000 after purchasing an additional 8,841 shares during the period. Finally, Van Berkom & Associates Inc. boosted its holdings in Armstrong World Industries by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after purchasing an additional 14,450 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

AWI has been the subject of a number of recent research reports. Truist Financial increased their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group lifted their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.75.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $131.30 on Friday. Armstrong World Industries, Inc. has a 52 week low of $68.35 and a 52 week high of $134.90. The firm has a market cap of $5.75 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The business’s fifty day moving average is $124.26 and its two-hundred day moving average is $119.60.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue was up 12.2% on a year-over-year basis. Equities research analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is 21.05%.

About Armstrong World Industries

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.