Armstrong World Industries, Inc. (NYSE:AWI) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC grew its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 13.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,300 shares of the construction company’s stock after buying an additional 13,687 shares during the period. AQR Capital Management LLC owned 0.26% of Armstrong World Industries worth $13,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. acquired a new position in shares of Armstrong World Industries during the 4th quarter worth approximately $1,639,000. Stifel Financial Corp raised its position in shares of Armstrong World Industries by 4.1% during the 4th quarter. Stifel Financial Corp now owns 87,885 shares of the construction company’s stock valued at $8,641,000 after buying an additional 3,446 shares during the period. Capstone Investment Advisors LLC acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $216,000. Bank of Nova Scotia purchased a new position in Armstrong World Industries in the fourth quarter worth approximately $1,868,000. Finally, Capital International Investors increased its stake in Armstrong World Industries by 1.3% during the fourth quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock worth $491,551,000 after acquiring an additional 63,618 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AWI shares. Evercore ISI upped their price target on 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. Truist Financial increased their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target 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. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.75.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock opened at $133.99 on Wednesday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. The business has a 50-day moving average of $125.76 and a 200 day moving average of $120.14. Armstrong World Industries, Inc. has a 12 month low of $68.35 and a 12 month high of $134.90.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, beating the consensus estimate 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 business had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. During the same quarter last year, the firm posted $1.38 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 dividend yield of 0.84%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is currently 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.