Armstrong World Industries, Inc. (NYSE:AWI) Stake Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 7.1% during the second quarter, HoldingsChannel reports. The firm owned 9,161 shares of the construction company’s stock after acquiring an additional 610 shares during the period. The Manufacturers Life Insurance Company’s holdings in Armstrong World Industries were worth $1,037,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Millennium Management LLC increased its stake in Armstrong World Industries by 252.5% in the 2nd quarter. Millennium Management LLC now owns 55,078 shares of the construction company’s stock worth $6,237,000 after purchasing an additional 39,452 shares in the last quarter. AQR Capital Management LLC increased its stake in Armstrong World Industries by 13.5% in the 2nd quarter. AQR Capital Management LLC now owns 115,300 shares of the construction company’s stock worth $13,057,000 after purchasing an additional 13,687 shares in the last quarter. Squarepoint Ops LLC increased its stake in Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after purchasing an additional 79,475 shares in the last quarter. Marshall Wace LLP increased its stake in Armstrong World Industries by 64.0% in the 2nd quarter. Marshall Wace LLP now owns 5,910 shares of the construction company’s stock worth $669,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Xponance Inc. increased its stake in Armstrong World Industries by 6.0% in the 2nd quarter. Xponance Inc. now owns 2,924 shares of the construction company’s stock worth $331,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 2.2 %

Shares of Armstrong World Industries stock opened at $136.26 on Friday. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.92 and a beta of 1.14. 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 52-week low of $68.35 and a 52-week high of $136.60. The stock has a 50-day simple moving average of $126.54 and a 200-day simple moving average of $120.77.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. The business 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%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 EPS. On average, equities research analysts expect that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors 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 0.82%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s payout ratio is 21.05%.

Analyst Ratings Changes

AWI has been the subject of a number of research reports. Truist Financial raised their price objective 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 objective 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. 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. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group raised 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

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.