231 Shares in Armstrong World Industries, Inc. (NYSE:AWI) Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 231 shares of the construction company’s stock, valued at approximately $33,000.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Armstrong World Industries by 3.7% in the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after buying an additional 51,839 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Armstrong World Industries by 1.5% in the second quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after acquiring an additional 17,075 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Armstrong World Industries by 4.2% during the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after purchasing an additional 67,798 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Armstrong World Industries by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock valued at $62,074,000 after purchasing an additional 18,333 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 1.0 %

NYSE:AWI opened at $141.25 on Friday. Armstrong World Industries, Inc. has a twelve month low of $96.69 and a twelve month high of $164.40. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. The stock’s 50 day moving average price is $150.88 and its two-hundred day moving average price is $134.85. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period in the prior year, the company posted $1.60 earnings per share. Armstrong World Industries’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 21.69%.

Analyst Upgrades and Downgrades

AWI has been the topic of a number of recent research reports. Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective 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. UBS Group increased their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI increased their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Loop Capital lifted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $140.83.

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.