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

Oppenheimer Asset Management Inc. grew its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,923 shares of the construction company’s stock after buying an additional 1,361 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Armstrong World Industries were worth $1,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Armstrong World Industries in the 2nd quarter valued at approximately $129,000. Jupiter Asset Management Ltd. lifted its position in 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 worth $27,872,000 after buying an additional 229,378 shares during the last quarter. American Century Companies Inc. boosted its stake in Armstrong World Industries by 13.0% during the second quarter. American Century Companies Inc. now owns 76,945 shares of the construction company’s stock worth $8,713,000 after buying an additional 8,841 shares during the period. Van Berkom & Associates Inc. increased its position in Armstrong World Industries by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after acquiring an additional 14,450 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of Armstrong World Industries in the second quarter valued at $204,000. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 2.3 %

AWI opened at $131.84 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The stock’s fifty day moving average is $123.99 and its two-hundred day moving average is $119.51. The company has a market capitalization of $5.77 billion, a P/E ratio of 24.78, a PEG ratio of 1.73 and a beta of 1.14. 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 posted 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 business had revenue of $365.10 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 EPS. Analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 annualized dividend and a dividend yield of 0.85%. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

Several equities analysts recently commented on AWI shares. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group increased their price target on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. 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 note on Wednesday, July 31st. Finally, 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 report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.75.

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.