Keybank National Association OH acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,540 shares of the construction company’s stock, valued at approximately $265,000.
A number of other hedge funds have also recently made changes to their positions in AWI. US Bancorp DE increased its stake in shares of Armstrong World Industries by 402.7% in the second quarter. US Bancorp DE now owns 367 shares of the construction company’s stock worth $28,000 after buying an additional 294 shares during the period. Van ECK Associates Corp purchased a new position in shares of Armstrong World Industries in the second quarter worth $97,000. Covestor Ltd increased its stake in shares of Armstrong World Industries by 89.9% in the first quarter. Covestor Ltd now owns 1,272 shares of the construction company’s stock worth $115,000 after buying an additional 602 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Armstrong World Industries in the first quarter worth $178,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Armstrong World Industries in the first quarter worth $200,000.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Armstrong World Industries from $112.00 to $113.00 in a research note on Wednesday, October 26th. UBS Group decreased their target price on shares of Armstrong World Industries from $86.00 to $82.00 and set a “sell” rating on the stock in a research note on Wednesday, July 27th. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. Finally, Credit Suisse Group reduced their price objective on shares of Armstrong World Industries from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.44.
Armstrong World Industries Stock Down 0.7 %
Armstrong World Industries (NYSE:AWI – Get Rating) last released its earnings results on Tuesday, October 25th. The construction company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). The business had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $331.54 million. Armstrong World Industries had a return on equity of 42.46% and a net margin of 16.18%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. On average, equities analysts predict that Armstrong World Industries, Inc. will post 4.8 EPS for the current fiscal year.
Armstrong World Industries Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be paid a $0.254 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, November 2nd. This represents a $1.02 dividend on an annualized basis and a yield of 1.29%. Armstrong World Industries’s payout ratio is presently 24.40%.
About Armstrong World Industries
Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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