Millennium Management LLC Raises Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Millennium Management LLC increased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 252.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,078 shares of the construction company’s stock after purchasing an additional 39,452 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Armstrong World Industries worth $6,237,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new position in Armstrong World Industries during the first quarter valued at approximately $2,081,000. Assenagon Asset Management S.A. boosted its position in Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after purchasing an additional 33,290 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Armstrong World Industries in the first quarter valued at about $39,183,000. Illinois Municipal Retirement Fund bought a new position in Armstrong World Industries in the first quarter worth about $3,097,000. Finally, Duality Advisers LP purchased a new stake in shares of Armstrong World Industries during the first quarter valued at about $1,150,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $133.31 on Friday. The firm’s 50 day simple moving average is $126.34 and its 200-day simple moving average is $120.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. Armstrong World Industries, Inc. has a 12 month low of $68.35 and a 12 month high of $136.35. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.88 and a beta of 1.14.

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

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AWI shares. UBS Group increased 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 report on Wednesday, July 31st. Evercore ISI raised their price objective 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 raised their price target on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

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.