Arrowstreet Capital Limited Partnership Acquires 13,888 Shares of Armstrong World Industries, Inc. $AWI

Arrowstreet Capital Limited Partnership increased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 350,633 shares of the construction company’s stock after purchasing an additional 13,888 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.81% of Armstrong World Industries worth $56,957,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AWI. Norges Bank acquired a new stake in shares of Armstrong World Industries during the 2nd quarter worth approximately $84,412,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Armstrong World Industries by 131.4% during the first 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 acquiring an additional 250,133 shares in 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 period. Nuveen LLC acquired a new stake in Armstrong World Industries in the first quarter worth $23,449,000. Finally, Global Alpha Capital Management Ltd. bought a new stake in Armstrong World Industries in the first quarter valued at $21,301,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $184.98 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. The stock has a market cap of $7.98 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. The stock’s fifty day simple moving average is $192.38 and its two-hundred day simple moving average is $181.40. Armstrong World Industries, Inc. has a 1-year low of $122.37 and a 1-year high of $206.08.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, November 6th. The construction company reported $1.36 EPS 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 during the quarter. As a group, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a dividend of $0.339 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.36 annualized dividend and a dividend yield of 0.7%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s payout ratio is 19.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AWI. Bank of America increased their price objective on shares of Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Vertical Research started coverage on Armstrong World Industries in a report on Monday, October 20th. They issued a “buy” rating and a $238.00 price target on the stock. Truist Financial raised their price objective on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped their target price on Armstrong World Industries from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.50.

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.