Armstrong World Industries, Inc. (NYSE:AWI) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,875 shares of the construction company’s stock after purchasing an additional 400 shares during the quarter. Bleakley Financial Group LLC’s holdings in Armstrong World Industries were worth $772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Armstrong World Industries during the first quarter worth $27,000. UMB Bank n.a. increased its stake in Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after acquiring an additional 153 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares during the last quarter. Covestor Ltd increased its stake in Armstrong World Industries by 20.4% during the first quarter. Covestor Ltd now owns 596 shares of the construction company’s stock worth $74,000 after acquiring an additional 101 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Armstrong World Industries by 25.3% during the first quarter. GAMMA Investing LLC now owns 620 shares of the construction company’s stock worth $77,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

AWI has been the subject of several recent analyst reports. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. 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 research report on Wednesday, July 31st. UBS Group raised their price target on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Jefferies Financial Group raised their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI raised their price target 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.00.

Armstrong World Industries Trading Down 1.1 %

NYSE:AWI opened at $139.45 on Tuesday. The firm has a market cap of $6.10 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The stock has a fifty day moving average price of $128.53 and a 200 day moving average price of $121.35. Armstrong World Industries, Inc. has a 12-month low of $68.35 and a 12-month high of $142.33. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97.

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, beating analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $365.10 million during 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%. Armstrong World Industries’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. Sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

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.