Mackenzie Financial Corp Increases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Mackenzie Financial Corp boosted its position in Armstrong World Industries, Inc. (NYSE:AWI) by 9.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,074 shares of the construction company’s stock after acquiring an additional 352 shares during the period. Mackenzie Financial Corp’s holdings in Armstrong World Industries were worth $574,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its stake in Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after buying an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock worth $75,273,000 after acquiring an additional 387,537 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Armstrong World Industries by 15,282.7% in the first quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company’s stock worth $398,530,000 after acquiring an additional 281,048 shares during the period. Invesco Ltd. grew its position in shares of Armstrong World Industries by 25.4% in the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company’s stock valued at $71,773,000 after purchasing an additional 102,895 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Armstrong World Industries during the 4th quarter valued at $8,375,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AWI has been the subject of several analyst reports. Bank of America raised their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Evercore ISI raised their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. UBS Group reissued a “neutral” rating and issued a $178.00 price target (up from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Finally, Truist Financial set a $195.00 price target on shares of Armstrong World Industries and gave the company a “buy” rating in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and a consensus target price of $177.13.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $190.66 on Thursday. Armstrong World Industries, Inc. has a fifty-two week low of $117.92 and a fifty-two week high of $191.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a market cap of $8.25 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The firm’s fifty day moving average price is $164.60 and its 200-day moving average price is $152.56.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.34. The firm had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. On average, equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. Armstrong World Industries’s dividend payout ratio (DPR) is 18.20%.

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.