Armstrong World Industries, Inc. (NYSE:AWI) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 230.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,430 shares of the construction company’s stock after buying an additional 30,273 shares during the quarter. Victory Capital Management Inc.’s holdings in Armstrong World Industries were worth $5,708,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AWI. Blue Trust Inc. boosted its stake in shares of Armstrong World Industries by 5.9% during the 3rd quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock valued at $188,000 after buying an additional 79 shares during the period. US Bancorp DE increased its holdings in shares of Armstrong World Industries by 13.9% during the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock worth $88,000 after purchasing an additional 82 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after purchasing an additional 89 shares during the period. CWM LLC increased its stake in Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after acquiring an additional 95 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in shares of Armstrong World Industries by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock worth $2,491,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 1.3 %

Armstrong World Industries stock opened at $159.07 on Friday. The company has a fifty day simple moving average of $140.65 and a 200 day simple moving average of $126.61. Armstrong World Industries, Inc. has a 1-year low of $82.63 and a 1-year high of $159.66. The company has a market cap of $6.93 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. Research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AWI. Loop Capital upped their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI increased 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. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, Truist Financial increased their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.