Guggenheim Capital LLC Acquires 861 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Guggenheim Capital LLC grew its holdings in Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 28.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,899 shares of the construction company’s stock after acquiring an additional 861 shares during the quarter. Guggenheim Capital LLC’s holdings in Armstrong World Industries were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AWI. William Blair Investment Management LLC bought a new stake in shares of Armstrong World Industries in the second quarter valued at approximately $33,129,000. Prudential Financial Inc. boosted its position in shares of Armstrong World Industries by 3,174.5% in the first quarter. Prudential Financial Inc. now owns 293,425 shares of the construction company’s stock valued at $26,411,000 after acquiring an additional 284,464 shares during the period. Burgundy Asset Management Ltd. boosted its position in shares of Armstrong World Industries by 35.2% in the second quarter. Burgundy Asset Management Ltd. now owns 789,573 shares of the construction company’s stock valued at $59,186,000 after acquiring an additional 205,442 shares during the period. Jennison Associates LLC boosted its position in shares of Armstrong World Industries by 31.0% in the third quarter. Jennison Associates LLC now owns 559,940 shares of the construction company’s stock valued at $44,364,000 after acquiring an additional 132,422 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Armstrong World Industries by 152.7% in the first quarter. First Trust Advisors LP now owns 178,207 shares of the construction company’s stock valued at $16,040,000 after acquiring an additional 107,682 shares during the period.

Armstrong World Industries Stock Down 3.8 %

Shares of NYSE AWI opened at $70.23 on Monday. The stock has a market cap of $3.19 billion, a PE ratio of 16.07, a PEG ratio of 1.66 and a beta of 1.14. The business has a fifty day moving average of $76.63 and a two-hundred day moving average of $77.36. Armstrong World Industries, Inc. has a 52-week low of $66.86 and a 52-week high of $96.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.35 and a current ratio of 1.95.

Armstrong World Industries (NYSE:AWI – Get Rating) last announced its earnings results on Tuesday, February 21st. The construction company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Armstrong World Industries had a net margin of 16.45% and a return on equity of 41.59%. The business had revenue of $304.50 million during the quarter, compared to analyst estimates of $298.81 million. During the same quarter last year, the business posted $1.09 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Armstrong World Industries, Inc. will post 4.88 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Thursday, March 2nd will be paid a $0.254 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.45%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 23.11%.

Analyst Ratings Changes

Several research analysts recently commented on AWI shares. Deutsche Bank Aktiengesellschaft reduced their target price on Armstrong World Industries from $99.00 to $91.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Loop Capital cut Armstrong World Industries from a “buy” rating to a “hold” rating and reduced their target price for the stock from $98.00 to $75.00 in a research report on Thursday, January 5th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Armstrong World Industries in a research report on Wednesday, February 22nd. Truist Financial reduced their target price on Armstrong World Industries from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Finally, Zelman & Associates cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Armstrong World Industries has a consensus rating of “Hold” and a consensus price target of $85.00.

Insider Activity

In other news, CEO Victor Grizzle sold 25,689 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $68.83, for a total value of $1,768,173.87. Following the completion of the sale, the chief executive officer now directly owns 332,435 shares in the company, valued at $22,881,501.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Mark A. Hershey sold 6,835 shares of Armstrong World Industries stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $80.14, for a total value of $547,756.90. Following the completion of the sale, the senior vice president now directly owns 38,218 shares in the company, valued at $3,062,790.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Victor Grizzle sold 25,689 shares of Armstrong World Industries stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $68.83, for a total value of $1,768,173.87. Following the completion of the sale, the chief executive officer now owns 332,435 shares of the company’s stock, valued at $22,881,501.05. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Armstrong World Industries Profile

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Armstrong World Industries, Inc engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Mineral Fiber, Architectural Specialties, and Unallocated Corporate. The Mineral Fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings.