Franklin Resources Inc. Increases Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Franklin Resources Inc. raised its position in Armstrong World Industries, Inc. (NYSE:AWI) by 53.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,982 shares of the construction company’s stock after acquiring an additional 7,958 shares during the quarter. Franklin Resources Inc. owned approximately 0.05% of Armstrong World Industries worth $3,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AWI. Jupiter Asset Management Ltd. boosted its holdings in Armstrong World Industries by 1,369.3% in the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock valued at $27,872,000 after acquiring an additional 229,378 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Armstrong World Industries by 46.0% in the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after buying an additional 145,133 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock worth $48,049,000 after buying an additional 110,111 shares during the period. Squarepoint Ops LLC boosted its position in Armstrong World Industries by 171.0% during the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after acquiring an additional 79,475 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Armstrong World Industries by 27.8% during the 2nd 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 period. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AWI. UBS Group raised their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Loop Capital boosted 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. Finally, Evercore ISI raised 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 note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Trading Up 1.1 %

Armstrong World Industries stock opened at $144.72 on Thursday. Armstrong World Industries, Inc. has a one year low of $95.24 and a one year high of $164.40. The business’s fifty day moving average is $150.22 and its 200 day moving average is $132.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The stock has a market capitalization of $6.31 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15.

Armstrong World Industries (NYSE:AWI) last announced 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 firm 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%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. On average, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.308 dividend. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.85%. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

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.