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

StockNews.com lowered shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

AWI has been the subject of a number of other reports. Jefferies Financial Group raised their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Truist Financial raised their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital raised their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI raised their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Up 1.9 %

AWI stock opened at $145.69 on Tuesday. The firm has a 50 day moving average of $150.89 and a 200 day moving average of $135.57. The stock has a market capitalization of $6.35 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a 52 week low of $96.69 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the firm posted $1.60 EPS. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.85%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is 21.69%.

Hedge Funds Weigh In On Armstrong World Industries

Several institutional investors have recently made changes to their positions in AWI. Squarepoint Ops LLC increased its holdings in Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after acquiring an additional 79,475 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Armstrong World Industries by 27.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after acquiring an additional 67,954 shares in the last quarter. Natixis Advisors LLC increased its holdings in Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after acquiring an additional 67,798 shares in the last quarter. State Street Corp increased its holdings in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after acquiring an additional 51,839 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Armstrong World Industries by 252.5% in the 2nd quarter. Millennium Management LLC now owns 55,078 shares of the construction company’s stock worth $6,237,000 after acquiring an additional 39,452 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.