StockNews.com Downgrades Armstrong World Industries (NYSE:AWI) to Hold

StockNews.com downgraded shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a report published on Tuesday.

Several other analysts have also weighed in on the company. Evercore ISI raised their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Loop Capital raised their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $142.60.

Armstrong World Industries Stock Up 5.1 %

Shares of NYSE AWI opened at $153.22 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries has a 52 week low of $110.68 and a 52 week high of $164.40. The stock has a market capitalization of $6.68 billion, a P/E ratio of 27.02, a PEG ratio of 1.60 and a beta of 1.19. The stock’s fifty day moving average is $147.51 and its 200 day moving average is $142.04.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. During the same quarter last year, the business earned $1.22 earnings per share. Armstrong World Industries’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s payout ratio is 21.69%.

Institutional Trading of Armstrong World Industries

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC boosted its stake in shares of Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after purchasing an additional 67,798 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Armstrong World Industries by 32.9% during the third quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock valued at $2,625,000 after purchasing an additional 4,945 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Armstrong World Industries by 4.2% during the third 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 in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Armstrong World Industries by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after acquiring an additional 5,191 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Armstrong World Industries in the third quarter worth approximately $1,035,000. 98.93% of the stock is owned by institutional investors and hedge funds.

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.