Ethic Inc. Makes New Investment in Armstrong World Industries, Inc. $AWI

Ethic Inc. bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,117 shares of the construction company’s stock, valued at approximately $508,000.

Several other hedge funds have also recently bought and sold shares of AWI. GAMMA Investing LLC raised its holdings in Armstrong World Industries by 9.2% during the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock worth $283,000 after buying an additional 169 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Armstrong World Industries by 113.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company’s stock valued at $672,000 after purchasing an additional 2,538 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock valued at $39,000 after purchasing an additional 140 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Armstrong World Industries in the first quarter valued at approximately $892,000. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Armstrong World Industries in the first quarter valued at approximately $273,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of AWI opened at $193.52 on Wednesday. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.03 and a beta of 1.45. Armstrong World Industries, Inc. has a 1-year low of $122.37 and a 1-year high of $206.08. The company’s fifty day simple moving average is $196.95 and its 200 day simple moving average is $173.51. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. The business had revenue of $325.00 million for the quarter. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. On average, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be given a dividend of $0.339 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, November 6th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 18.20%.

Wall Street Analysts Forecast Growth

AWI has been the topic of a number of recent research reports. Bank of America lifted their price objective on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 6th. UBS Group reiterated a “neutral” rating and issued a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Truist Financial lifted their price objective on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and an average price target of $202.25.

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.