Massachusetts Financial Services Co. MA Acquires 5,652 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Massachusetts Financial Services Co. MA boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 14.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,384 shares of the construction company’s stock after buying an additional 5,652 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.10% of Armstrong World Industries worth $5,026,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AWI. Janney Montgomery Scott LLC boosted its holdings in Armstrong World Industries by 142.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,440 shares of the construction company’s stock valued at $1,223,000 after purchasing an additional 7,317 shares during the period. Norges Bank acquired a new stake in Armstrong World Industries during the fourth quarter worth about $42,297,000. Corient Private Wealth LLC increased its stake in Armstrong World Industries by 6.4% during the fourth quarter. Corient Private Wealth LLC now owns 14,088 shares of the construction company’s stock valued at $1,385,000 after acquiring an additional 842 shares during the period. Franklin Resources Inc. acquired a new position in Armstrong World Industries in the 4th quarter valued at approximately $1,639,000. Finally, Chesapeake Capital Corp IL bought a new stake in shares of Armstrong World Industries in the 4th quarter worth approximately $918,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Trading Down 0.4 %

Shares of AWI opened at $131.30 on Friday. 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 company has a market cap of $5.75 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.73 and a beta of 1.14. The stock has a fifty day moving average price of $124.53 and a two-hundred day moving average price of $119.66. Armstrong World Industries, Inc. has a 52-week low of $68.35 and a 52-week high of $134.90.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The business had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. During the same period in the previous year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts predict that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AWI. Evercore ISI raised their target price on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Truist Financial upped their price objective on Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, UBS Group boosted their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.75.

Armstrong World Industries Company 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.