Cerity Partners LLC Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Cerity Partners LLC bought a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,324 shares of the construction company’s stock, valued at approximately $622,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Armstrong World Industries by 182.0% during the third quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. SRS Capital Advisors Inc. grew its stake in Armstrong World Industries by 19.7% during the third quarter. SRS Capital Advisors Inc. now owns 2,209 shares of the construction company’s stock worth $159,000 after buying an additional 363 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Armstrong World Industries during the third quarter worth approximately $224,000. Legato Capital Management LLC bought a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $224,000. Finally, JB Capital LLC acquired a new position in shares of Armstrong World Industries in the 4th quarter worth approximately $229,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. UBS Group upgraded Armstrong World Industries from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $103.00 in a research report on Thursday, January 4th. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Truist Financial raised their price objective on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries presently has an average rating of “Moderate Buy” and a consensus price target of $100.17.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $115.96 on Thursday. The company has a market cap of $5.08 billion, a PE ratio of 23.19, a PEG ratio of 1.76 and a beta of 1.12. The company has a current ratio of 1.61, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The company’s 50-day moving average is $119.66 and its two-hundred day moving average is $100.14.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.18. Armstrong World Industries had a net margin of 17.28% and a return on equity of 41.56%. The business had revenue of $312.30 million for the quarter, compared to analyst estimates of $305.44 million. During the same period in the prior year, the business posted $1.08 earnings per share. Armstrong World Industries’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. Armstrong World Industries’s dividend payout ratio is currently 22.40%.

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.