Bridges Investment Management Inc. Makes New $331,000 Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Bridges Investment Management Inc. bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,927 shares of the construction company’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AWI. Price T Rowe Associates Inc. MD lifted its holdings in Armstrong World Industries by 56.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock worth $155,991,000 after acquiring an additional 569,824 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Armstrong World Industries by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock worth $468,315,000 after acquiring an additional 517,699 shares in the last quarter. Norges Bank bought a new position in Armstrong World Industries during the fourth quarter worth about $42,297,000. Los Angeles Capital Management LLC bought a new position in Armstrong World Industries during the first quarter worth about $39,183,000. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of 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 valued at $27,872,000 after purchasing an additional 229,378 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group boosted their price target 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 price target on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Finally, Truist Financial boosted their price target on Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.75.

Armstrong World Industries Stock Performance

AWI opened at $131.30 on Monday. 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 capitalization of $5.75 billion, a PE ratio of 24.68, a PEG 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 50-day simple moving average is $124.53 and its 200 day simple moving average is $119.65.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $360.36 million. During the same quarter in the prior year, the company posted $1.38 earnings per share. Armstrong World Industries’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

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

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.