Creative Planning Increases Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Creative Planning raised its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,079 shares of the construction company’s stock after acquiring an additional 141 shares during the period. Creative Planning’s holdings in Armstrong World Industries were worth $273,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. grew its position in shares of Armstrong World Industries by 1.5% during 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. Van Berkom & Associates Inc. grew its position in shares of 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 worth $82,168,000 after acquiring an additional 14,450 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after acquiring an additional 145,133 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Armstrong World Industries by 35.0% during the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock worth $48,049,000 after acquiring an additional 110,111 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after acquiring an additional 67,954 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Truist Financial increased their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Trading Up 0.8 %

NYSE:AWI opened at $153.70 on Friday. The company has a market capitalization of $6.70 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. 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, Inc. has a 52-week low of $79.39 and a 52-week high of $154.55. The stock has a fifty day simple moving average of $134.39 and a 200-day simple moving average of $123.98.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 EPS. On average, equities research analysts expect that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 19.75%.

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.