Ballentine Partners LLC Takes $227,000 Position in Armstrong World Industries, Inc. (NYSE:AWI)

Ballentine Partners LLC acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,730 shares of the construction company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AWI. Jupiter Asset Management Ltd. acquired a new position in shares of Armstrong World Industries in the first quarter worth about $2,081,000. Assenagon Asset Management S.A. boosted its stake in Armstrong World Industries by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after purchasing an additional 33,290 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Armstrong World Industries during the 1st quarter valued at $3,097,000. Duality Advisers LP acquired a new stake in shares of Armstrong World Industries during the 1st quarter valued at $1,150,000. Finally, Sei Investments Co. lifted its position in shares of Armstrong World Industries by 185.3% during the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after acquiring an additional 33,927 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group increased their target price on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Evercore ISI increased their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price objective on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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 has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Armstrong World Industries Trading Up 2.1 %

Shares of NYSE:AWI opened at $140.23 on Wednesday. The company has a market cap of $6.14 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.92 and a beta of 1.14. The stock’s 50-day moving average is $130.96 and its 200-day moving average is $122.28. Armstrong World Industries, Inc. has a 52-week low of $73.25 and a 52-week high of $142.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76.

Armstrong World Industries (NYSE:AWI) last released 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. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. During the same quarter last year, the company earned $1.38 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 23.12%.

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.