Creative Planning Buys 349 Shares of Armstrong World Industries, Inc. $AWI

Creative Planning boosted its position in Armstrong World Industries, Inc. (NYSE:AWI) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,925 shares of the construction company’s stock after purchasing an additional 349 shares during the quarter. Creative Planning’s holdings in Armstrong World Industries were worth $2,912,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Armstrong World Industries by 131.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock worth $62,060,000 after buying an additional 250,133 shares during the last quarter. Invesco Ltd. grew its holdings in Armstrong World Industries by 34.0% in the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock worth $95,886,000 after purchasing an additional 172,779 shares during the last quarter. Nuveen LLC acquired a new position in shares of Armstrong World Industries during the first quarter worth $23,449,000. Global Alpha Capital Management Ltd. acquired a new position in shares of Armstrong World Industries during the first quarter worth $21,301,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Armstrong World Industries by 91.7% during the 1st quarter. AQR Capital Management LLC now owns 248,363 shares of the construction company’s stock valued at $34,296,000 after purchasing an additional 118,830 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, October 8th. Loop Capital set a $190.00 price target on Armstrong World Industries and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Truist Financial upped 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. Vertical Research started coverage on shares of Armstrong World Industries in a research note on Monday, October 20th. They issued a “buy” rating and a $238.00 target price for the company. Finally, Evercore ISI boosted their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 30th. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.50.

Armstrong World Industries Trading Up 1.4%

Armstrong World Industries stock opened at $182.97 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.52 and a debt-to-equity ratio of 0.47. Armstrong World Industries, Inc. has a 52 week low of $122.37 and a 52 week high of $206.08. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. The stock has a 50-day moving average price of $193.54 and a 200 day moving average price of $179.70.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. The company had revenue of $325.00 million for the quarter. Sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were given a dividend of $0.339 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, November 6th. Armstrong World Industries’s payout ratio is presently 19.31%.

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.