First Horizon Advisors Inc. Buys 130 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

First Horizon Advisors Inc. boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 25.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634 shares of the construction company’s stock after buying an additional 130 shares during the quarter. First Horizon Advisors Inc.’s holdings in Armstrong World Industries were worth $83,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new stake in Armstrong World Industries in the third quarter worth about $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $31,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. UMB Bank n.a. increased its holdings in Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after buying an additional 153 shares during the period. Finally, CWM LLC raised 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 worth $73,000 after buying an additional 95 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Armstrong World Industries Stock Up 1.3 %

Shares of AWI stock opened at $159.08 on Monday. Armstrong World Industries, Inc. has a fifty-two week low of $82.63 and a fifty-two week high of $159.66. The firm has a market capitalization of $6.93 billion, a PE ratio of 28.06, a P/E/G ratio of 2.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock’s 50-day simple moving average is $140.65 and its 200-day simple moving average is $126.76.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.60 EPS. Equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.77%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is 21.69%.

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.