Citigroup Inc. Buys 2,215 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Citigroup Inc. lifted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,697 shares of the construction company’s stock after purchasing an additional 2,215 shares during the quarter. Citigroup Inc.’s holdings in Armstrong World Industries were worth $4,297,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Transcendent Capital Group LLC acquired a new position in Armstrong World Industries during the third quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries during the third quarter worth about $31,000. Allspring Global Investments Holdings LLC lifted its position in 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 worth $35,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AWI shares. Truist Financial upped their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price 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 raised their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Trading Up 0.1 %

Shares of AWI opened at $159.30 on Wednesday. The business has a 50-day moving average of $144.32 and a 200 day moving average of $128.61. Armstrong World Industries, Inc. has a fifty-two week low of $89.87 and a fifty-two week high of $164.40. The firm has a market cap of $6.94 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $386.60 million during 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%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. As a group, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given 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 of this dividend was 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%.

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.