Armstrong World Industries, Inc. (NYSE:AWI) Stock Position Lifted by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 27.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,314 shares of the construction company’s stock after purchasing an additional 941 shares during the period. Chesapeake Capital Corp IL’s holdings in Armstrong World Industries were worth $565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its position in Armstrong World Industries by 4.3% during the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after purchasing an additional 76 shares in the last quarter. Blue Trust Inc. grew its position in Armstrong World Industries by 5.9% during the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock valued at $188,000 after purchasing an additional 79 shares in the last quarter. US Bancorp DE grew its position in Armstrong World Industries by 13.9% during the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after purchasing an additional 82 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Finally, CWM LLC lifted its stake in Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after acquiring an additional 95 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Loop Capital lifted their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Truist Financial boosted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $153.28 on Friday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.96 and a beta of 1.13. Armstrong World Industries, Inc. has a 1-year low of $81.47 and a 1-year high of $157.51. The firm has a fifty day simple moving average of $137.42 and a 200-day simple moving average of $125.29. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.