Thrivent Financial for Lutherans Acquires 4,334 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Thrivent Financial for Lutherans increased its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,383 shares of the construction company’s stock after acquiring an additional 4,334 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Armstrong World Industries were worth $17,530,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Chesapeake Capital Corp IL grew its holdings in Armstrong World Industries by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 4,314 shares of the construction company’s stock worth $565,000 after purchasing an additional 941 shares during the period. Natixis Advisors LLC boosted its position in shares of Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Armstrong World Industries by 4.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after buying an additional 76 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Armstrong World Industries by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,206 shares of the construction company’s stock worth $1,341,000 after buying an additional 283 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Armstrong World Industries by 230.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock worth $5,708,000 after buying an additional 30,273 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $154.47 on Thursday. Armstrong World Industries, Inc. has a 52 week low of $82.63 and a 52 week high of $157.51. The company’s 50 day moving average price is $139.35 and its two-hundred day moving average price is $126.10. The stock has a market cap of $6.73 billion, a P/E ratio of 27.24, a P/E/G 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 (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.60 earnings per share. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a 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 dividend payout ratio (DPR) is 21.69%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. UBS Group upped their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Loop Capital upped their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $140.83.

About Armstrong World Industries

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.