JPMorgan Chase & Co. Raises Position in Armstrong World Industries, Inc. (NYSE:AWI)

JPMorgan Chase & Co. raised its position in Armstrong World Industries, Inc. (NYSE:AWI) by 29.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 63,244 shares of the construction company’s stock after purchasing an additional 14,247 shares during the period. JPMorgan Chase & Co. owned 0.15% of Armstrong World Industries worth $8,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after purchasing an additional 34,028 shares during the last quarter. Principal Securities Inc. lifted its holdings in Armstrong World Industries by 11.1% during the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company’s stock worth $389,000 after buying an additional 274 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Armstrong World Industries by 639.8% in the fourth quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company’s stock valued at $1,022,000 after purchasing an additional 6,251 shares during the period. Blue Trust Inc. grew its position in shares of Armstrong World Industries by 11.4% during the fourth quarter. Blue Trust Inc. now owns 1,591 shares of the construction company’s stock worth $209,000 after buying an additional 163 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Armstrong World Industries by 7.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company’s stock worth $1,069,000 after acquiring an additional 555 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AWI has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. UBS Group lifted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group raised their target price on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $153.33.

Armstrong World Industries Price Performance

AWI stock opened at $135.80 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock’s 50 day moving average price is $143.76 and its 200 day moving average price is $145.85. The firm has a market cap of $5.90 billion, a P/E ratio of 23.95, a PEG ratio of 1.60 and a beta of 1.20. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $164.40.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Armstrong World Industries 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.