Envestnet Portfolio Solutions Inc. Grows Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 29.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,390 shares of the construction company’s stock after purchasing an additional 1,462 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Armstrong World Industries were worth $724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AWI. Price T Rowe Associates Inc. MD increased its stake in shares of Armstrong World Industries by 56.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock worth $155,991,000 after purchasing an additional 569,824 shares in the last quarter. Vanguard Group Inc. boosted its position in Armstrong World Industries by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock worth $468,315,000 after acquiring an additional 517,699 shares during the last quarter. Norges Bank acquired a new position in Armstrong World Industries during the fourth quarter worth about $42,297,000. Los Angeles Capital Management LLC acquired a new position in Armstrong World Industries during the first quarter worth about $39,183,000. Finally, Principal Financial Group Inc. boosted its position in Armstrong World Industries by 5,304.3% during the fourth quarter. Principal Financial Group Inc. now owns 228,007 shares of the construction company’s stock worth $22,418,000 after acquiring an additional 223,788 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $122.52 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.22. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.83 and a beta of 1.14. The company’s 50-day moving average is $119.07 and its two-hundred day moving average is $117.50. Armstrong World Industries, Inc. has a 1-year low of $68.35 and a 1-year high of $134.90.

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

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a $0.28 dividend. The ex-dividend date is Thursday, August 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.91%. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of 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. UBS Group boosted their price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial boosted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $135.75.

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.