Point72 Hong Kong Ltd Makes New $169,000 Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Point72 Hong Kong Ltd bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,289 shares of the construction company’s stock, valued at approximately $169,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AWI. OneDigital Investment Advisors LLC increased its stake in shares of Armstrong World Industries by 4.3% in the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after buying an additional 76 shares during the period. Blue Trust Inc. lifted its holdings in shares of Armstrong World Industries by 5.9% during the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock worth $188,000 after purchasing an additional 79 shares during the period. US Bancorp DE lifted its holdings in shares of Armstrong World Industries by 13.9% during the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock worth $88,000 after purchasing an additional 82 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Armstrong World Industries by 41.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Finally, CWM LLC grew its position in shares of Armstrong World Industries by 17.3% in the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after buying an additional 95 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 0.4 %

AWI stock opened at $159.14 on Tuesday. The stock’s 50 day simple moving average is $143.79 and its 200 day simple moving average is $128.29. The company has a market cap of $6.94 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. 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, Inc. has a fifty-two week low of $89.87 and a fifty-two week high of $164.40.

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

Armstrong World Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is 21.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AWI shares. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Loop Capital boosted 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. Evercore ISI upped their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $140.83.

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.