Walleye Capital LLC Buys Shares of 1,709 Armstrong World Industries, Inc. (NYSE:AWI)

Walleye Capital LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,709 shares of the construction company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in Armstrong World Industries in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new position in Armstrong World Industries in the 3rd quarter worth about $31,000. Allspring Global Investments Holdings LLC grew its stake in Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Armstrong World Industries by 33.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after buying an additional 125 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after buying an additional 153 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Performance

Shares of AWI opened at $154.81 on Wednesday. The firm has a market cap of $6.75 billion, a PE ratio of 27.30, a PEG ratio of 2.02 and a beta of 1.15. The stock’s fifty day moving average price is $147.45 and its two-hundred day moving average price is $130.42. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 1 year low of $92.29 and a 1 year high of $164.40.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 earnings per share. On average, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

Analysts Set New Price Targets

A number of equities analysts have commented on AWI shares. Jefferies Financial Group boosted their price objective on 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 increased their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.83.

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.