Quest Partners LLC Raises Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Quest Partners LLC boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 32.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 19,971 shares of the construction company’s stock after purchasing an additional 4,945 shares during the quarter. Quest Partners LLC’s holdings in Armstrong World Industries were worth $2,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Burgundy Asset Management Ltd. increased its stake in Armstrong World Industries by 1.5% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after buying an additional 17,075 shares in the last quarter. Van Berkom & Associates Inc. grew its position in shares of Armstrong World Industries by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after purchasing an additional 14,450 shares in the last quarter. Natixis Advisors LLC grew its position 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. Los Angeles Capital Management LLC grew its position in shares of Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after purchasing an additional 145,133 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after purchasing an additional 67,954 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 0.0 %

Shares of NYSE:AWI opened at $153.28 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a market cap 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 12 month low of $81.47 and a 12 month high of $157.51. The company has a 50-day moving average price of $137.42 and a 200 day moving average price of $125.37.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 earnings per share. As a group, equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.80%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.69%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AWI. 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 report on Wednesday, October 30th. 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 report 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 report on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group increased their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries 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.