Van ECK Associates Corp Purchases 4,811 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Van ECK Associates Corp boosted its position in shares of Armstrong World Industries, Inc. (NYSE:AWIFree Report) by 36.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,987 shares of the construction company’s stock after purchasing an additional 4,811 shares during the period. Van ECK Associates Corp’s holdings in Armstrong World Industries were worth $2,234,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Armstrong World Industries during the 1st quarter valued at about $27,000. UMB Bank n.a. grew its holdings in Armstrong World Industries by 67.3% during the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. Headlands Technologies LLC bought a new position in Armstrong World Industries during the 4th quarter valued at about $27,000. YHB Investment Advisors Inc. bought a new position in Armstrong World Industries during the 1st quarter valued at about $52,000. Finally, GAMMA Investing LLC bought a new position in Armstrong World Industries during the 4th quarter valued at about $49,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. Finally, StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $110.17.

View Our Latest Stock Analysis on AWI

Armstrong World Industries Price Performance

Shares of AWI opened at $112.14 on Friday. The company has a 50 day moving average price of $114.81 and a 200-day moving average price of $112.21. Armstrong World Industries, Inc. has a fifty-two week low of $68.35 and a fifty-two week high of $125.56. The stock has a market capitalization of $4.91 billion, a PE ratio of 21.08, a PEG ratio of 1.70 and a beta of 1.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.79.

Armstrong World Industries (NYSE:AWIGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The firm had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $319.44 million. During the same quarter in the prior year, the company earned $1.12 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a $0.28 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.12 annualized dividend and a dividend yield of 1.00%. Armstrong World Industries’s payout ratio is presently 21.05%.

Armstrong World Industries Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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